What Do Millennials Actually Use Venmo For?
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Pizza. Beer. Rogue eggplant? These are the emojis that delineate what users of the much-beloved mobile payment app Venmo spend money on, according to a recent study of transaction descriptions.
After analyzing more than 500,000 public Venmo payments, researchers at student loan marketplace LendEdu determined that a slice of pizza and a small flying stack of money were the most frequently used emojis.
It makes sense given the app’s majority base of millennial users who both enjoy the cheesy, cheap dinner option and don’t often carry cash. Alcohol-related emojis, such as champagne, wine and beer, swept four of the top 10 spots for emojis used. The playful illustrations, beverage related and otherwise, are used in about a third of all Venmo activity.
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