In the last few years, uptake of personal payment applications has been shaking up the world of fintech. US-based digital wallet Venmo, one of the fastest-growing apps in this realm, is changing the way we think about person-to-person (P2P) payments. Venmo is used mainly to make small payments between people who know each other, and it appears to be highly effective in eliminating small – albeit pesky – lingering debt between friends, family members and others who struggle to follow through on IOUs. On the face of it, Venmo seems like nothing more than a variation of PayPal (which, incidentally, owns Venmo). So what sets Venmo apart, and why are millennials flocking to it with such enthusiasm?