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During the Covid-19 crisis, the move to contactless payments has accelerated drastically. Between March 2019 and March 2020, the service grew in the U.S. by 150%, according to Visa.
Venmo, an app typically used for transactions between friends and family, is launching a new feature for sole proprietors, side hustlers and sellers to launch a Business Profile on the app.
In a blog post, Venmo said it understands this is an especially difficult time for people to “connect, market and grow their businesses, relying solely on traditional methods like word of mouth without access to big marketing budgets.”
Through this new profile, businesses will be able to utilize touch-free transactions with an individual QR code.
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