Using Venmo in the American Red Cross
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Youth Services Case Study: Using Venmo in the American Red Cross Through the case study project, the American Red Cross National Youth Council aims to highlight the accomplishments of exceptional youth programs around the country as a resource for other regions and chapters. This document outlines the planning, logistics, and impact of Venmo on American Red Cross Clubs. Table of Contents Description of Venmo Logistics Diagrams Venmo-Specific Events • Club Transactions • Fundraisers Regional Differences • High School vs. College • Urban vs. Rural Setting Reflection For more resources from the American Red Cross National Youth Council, visit: www.redcrossyouth.org Description of Venmo Owned by PayPal Holdings, Inc., Venmo is a payment service that allows smartphone users to transfer funds to or request funds from other users through a mobile application. The service was originally released in 2009. After making an account, Venmo users may either use money they have in the application account, link their debit card, or link their bank account. Funds may be transferred directly to a linked bank account after they are received from senders. Users also can control who is able to see their transactions. The service emphasizes a social network among its users while prioritizing bank-level security encryption methods. Logistics The Venmo application, whether used through smart devices or the desktop site, includes several key features: Home — On the homepage, Venmo users can view a thread of transactions that have been made by their friends on the application. Only transactions categorized on the “Public” setting will be displayed on this newsfeed, and to optimize confidentiality, the transaction amount is always concealed; only the senders, receivers, and transaction description are listed. Profile — On their profile, Venmo users can view a thread of transactions that they have personally made. Because this is a personal profile, it will include all transactions, whether they have been categorized as “Public” (visible to everyone), “Friends” (visible to mutual friends), or “Private” (visible only to the sender and receiver). Manage Balance — This feature, which is only available on the mobile application and not the desktop site, allows users to utilize the money on their Venmo account. They can either transfer the money they have accumulated through a linked bank account, or conversely add money from their bank to their Venmo balance so that they can pay other users. Search People — Venmo users can use this feature to search for other users who they wish to pay, and they can search via name, username, or a unique scanned code. Venmo Card — A recent addition allows users to order a free, physical Venmo card, which can be used like a debit card at most locations. When the purchase exceeds the amount that is on the user’s Venmo balance, the remaining balance will be automatically drawn from the user’s linked bank account. Purchases — This page lists all of the purchases that users have made using their Venmo card. Additionally, it encompasses a feature that allows them to easily split the cost of the purchase with other Venmo users, if they so choose to do so. Notifications — This page alerts Venmo users of payment requests, friend requests, and other associated notifications. Incomplete — This page displays pending payment requests that Venmo users have personally made. It also includes options for users to send reminders to those who have yet to pay them back. Settings / Help — These pages allow Venmo users to customize their account information (e.g. bank, credit / debit card, phone number, email address, etc.) and explore general logistics. Diagrams Registering a Venmo account can be a challenging process for most Red Cross Clubs. We have included the following step-by-step diagrams to help navigate the app in an easy and efficient way. How To Create a Chapter Account: 1. Download the app and sign up 2. Select the “Manual Registration” option 3. Confirm pin 4. Click the 3 horizontal lines in the top left corner 5. Select the settings icon in the bottom left corner 6. Select “Banks and Cards” 7. Select “Add a New Account” How Members Pay Using the App: 1. In the menu pane, select “Search People” 2. Select the search box on the top 3. Select the “New” pencil icon 4. Type the chapter’s username and payment purpose 5. Select a method of payment 6. Confirm Payment Venmo-Specific Events Purpose: Club Transactions The University of Texas at Dallas Red Cross Club uses Venmo to collect money from club members and for fundraisers. Members can pay member and t-shirt dues using either cash or Venmo, but Venmo has been the most popular option. It is not only convenient for the treasurer to collect money using a club Venmo account, but also easy to keep track of who has paid. Venmo is also used to collect money during on-campus fundraisers which have included selling Uncrustables®, which are premade peanut butter and jelly sandwiches, to fund for CPR classes. During these on-campus fundraisers, most students use Venmo as well. The University of Georgia’s Red Cross Club also uses Venmo as a method of organizing club transactions on various different scales, whether it be their ongoing year-long button campaign fundraiser, reimbursing members for supplies purchased for events, collecting membership dues, and much more. If members or outside supporters prefer to pay in cash, the treasurer will collect the cash and use his / her personal Venmo account to transfer an equal amount to the club’s Venmo account, thus providing a reliable source of electronic documentation, which is extremely helpful in maintaining transparency with their local Red Cross chapter and keep records for future reference. (A separate Excel spreadsheet is used in conjunction with the Venmo transaction log to track different methods of payment.) Additionally, the club successfully maintains security and confidentiality because the treasurer is the head manager of the Venmo account and the executive council members are side managers of the Venmo account, and the funds are housed within the Venmo account (never linked or transferred to / from a bank account). Purpose: Fundraisers New York University’s Red Cross Club uses Venmo for fundraising and charity events. Venmo was first used for a fundraiser under the club’s private account, and all the proceeds were subsequently donated to a charity. They operated a stand for the fundraiser, and members who worked at the stand traveled throughout campus to collect funds from students. Many of the students did not have cash, so Venmo proved to be a quick and convenient option to make transactions. The chapter plans on continuing their use of Venmo for future fundraisers. Regional Differences High School vs. College High schools and colleges may differ in their oversight of club transactions. Since high schoolers are minors, some high schools require clubs to deposit collected funds into a bank account managed by the school. On the other hand, many college clubs manage their own funds. If you are a high school student looking to implement Venmo into your Red Cross Club, we would recommend checking with your school administration. Many principals understand that Venmo is a huge advantage to clubs in terms of financial management, and may accept its implementation. If Venmo isn’t successfully implemented due to issues with the school administration, we recommend asking your school how to best manage club finances with the resources available to you. Additionally, some high schools, such as those in Gulf Coast Region of Texas, require school clubs to place all funds earned by the club into the school’s “Activities” account. Withdrawals then need to be requested. The added regulations can serve as a potential issue in a club’s ability to collect funds through Venmo, as cash is usually preferred in these instances. Urban vs. Rural Setting Whether a particular Red Cross Club is located in an urban, suburban, or rural setting plays a key role in how Venmo may be utilized. This ultimately affects how Clubs choose to manage their finances, club accounts, and the transfer of funds between donors, the club, and the greater American Red Cross. Red Cross Clubs located in cities and developed urban areas may find that Venmo is beneficial for building linkages across the many overlapping social groups on campus. Because of the nature of a typical urban sprawl, Venmo can easily quicken and simplify a Red Cross Club’s many transactions between general members, the student population, school administration, and the organization itself. Venmo can be a useful way to consolidate information as well as keep accurate records of where club funds are coming from and/or going. Because Venmo offers users options to attach various bank accounts to their respective Venmo accounts, Red Cross Clubs may take advantage of the ability to be notified exactly when a transfer of money has been completed, to whom, and where. The possibility of eliminating paper cash may also be relevant in this case, since students are more likely to possess credit cards and partake in paperless mobile banking applications. Clubs would also be able to collaborate with other Red Cross Clubs in their local Chapter/Region who are also using Venmo in order to manage funds raised from joint activities and share best practices with one another. As well, Red Cross Clubs located in rural settings and smaller towns may use Venmo to their advantage merely for the purpose of convenience. Because Red Cross Clubs in rural areas of the United States may be few and far between, Venmo becomes a relevant tool to build connections across this vast network. For statistical regions that may only have one school and/or Club serving the area, Venmo can link students for whom commuting to school may be especially burdensome or difficult.