Venmo to be officially available for teenagers, although many use it already

By KEN SWEET
AP Business Writer

NEW YORK (AP) — Venmo will officially allow teenagers to open an account with their parents’ permission, the company said Monday, expanding the popular social payments app to a demographic that is likely to embrace it almost immediately. Venmo has been so popular with families even before this announcement that parents often set up accounts for their children, which is a violation of Venmo’s terms of service. The Venmo Teen Account will be available for 13 to 17-year olds and will come with a debit card as well.