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He explains that, in order to liberate the supposed millions, the mark must pay a commission fee up front.

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You can add comments and notes that other friendly Venmo users can browse like a social media wall.

Venmo takes online payments and makes it a more welcoming system to suit you and your friends.

There are no checks on the status of people registering a company. "Independent on Sunday" newspaper (in the 29th June '03 Business section) reported the arrest of "Chief Emmanuel Nwude-Odenigwe" on a charge of defrauding a Brazilian bank manager of 242 million US dollars.

The Chief was arrested in Lagos, Nigeria where he had posed as the governor of the central bank in order to fool his victim.

Pay Pal has evolved into a massive, global payment institution, while Venmo retains its handy, quick-payment feel.