Buying drinks for a band: the birth of payment service Venmo
April 21, 2017
NEW YORK (AP) — It only took a few drinks — and a much-younger Iqram Magdon-Ismail forgetting his wallet at home one night — for him and his friends to come up with one of the most popular ways of splitting a bill: Venmo.
Magdon-Ismail is the co-founder of Venmo, the payment service that allows people to send each other cash for any purpose whatsoever.
He spoke with the AP about how Venmo got started and how his unique upbringing helped spark the concept for Venmo, which is now owned by PayPal. Below are the highlights of the interview, edited for length and clarity.
Q: How did you an...