Venmo has made it easy to split a check at a restaurant or pay a babysitter. But the peer-to-peer app also provides opportunities to easily raise funds for charity — and even get some cash for yourself.
The free app, which links up a bank account with a debit/credit card, obviously saves us the horror of carrying cash around, but it also has some other perks you may not even be aware of. Recently, a few viral stories proved just what an effective tool Venmo can be in raising money for charity.
During ESPN’s “College GameDay” at Iowa State University, former student Carson King held up a sign asking people to send money to his Venmo account so he could get more Busch Light. It worked. Donations starting pouring in and when the total hit $600, King announced he’d donate any money raised to the University of Iowa Stead Family Children’s Hospital.
Then things got real when Busch Light and Venmo both jumped in saying they’d match any donated funds. King’s final donation amount to the hospital was just shy of $3 million, with additional donations coming in from his employer Prairie Meadows Casino, Iowa’s Busch Light distributor and other local companies.
Another children’s hospital recently benefitted from the kindness of strangers. Venmo was also involved in this story. Instead of beer, though, lemonade was the drink of choice. Six Cincinnati children raised $148 over Labor Day selling lemonade and decided to donate it to the Cincinnati Children’s Hospital. Two of the little lemonade sellers had spent some time in that hospital. Hillary had donated part of her liver to her baby sister Beatrice in a 12-hour surgery. The families made up a big check showing the donation, posted a photo of it with the kids on Instagram and asked anyone else who wanted to donate to send money via Venmo. In four days, people had sent more than $125,000 to the account.
Feeling confident about the effectiveness of using Venmo to help others? Then I’ll move on to some perks to help yourself.
PepsiCo Inc. announced earlier this month it will pay you for buying enough Doritos and Mountain Dew. It’s the first time the company has launched a cash back loyalty program. To earn rewards with PepCoin, you’ll have to buy both a single-serve Frito-Lay snack and a PepsiCo Inc. drink. Qualifying items are specially marked and you’ll need to scan the codes found on the bag and under the bottle cap within 48 hours of each other. You’ll earn up to 10% cash back and when the dollar amount you’ve earned gets to $2, that money will automatically transfer into your Venmo account. To get started, create a PepCoin account and link your Venmo to PepCoin’s website. This would be much easier if PepCoin was an app (and I’m hopeful one is coming), but for now the website is what you’ll need to use.
Some Uber customers have received emails granting them half off their next five rides if they pay with Venmo. The Points Guy spotted the promotion which requires no code since the deal is automatically added to your account. The discount is only good for up to $10 per ride — but hey, it’s free money, so check the email associated with your Uber account for the promotion.
And lastly, starting Oct. 9, you can use Venmo’s Refer A Friend program to earn up to $50. Have a friend who isn’t using Venmo yet? Use their phone number or email to send them just one cent through the app and ask them to sign up. When they do and spend over $5, Venmo will put $5 in your account and in your friend’s account. This promotion goes through the end of the year and you can sign up a maximum of 10 friends.
Venmo is more than just a convenient way to send money to friends. The app can be a perfect way to spread goodness by raising money for charity, and it provides simple opportunities to get more cash in your own account as well.