Venmo mobile payments drives exchange for charities, retail

A few weeks after a disastrous 7.0 magnitude earthquake struck Haiti, killing more than 150,000 people, Peter Groverman was organizing.

By the end of his planning, Groverman—a Villanova law student and CEO of local advertising startup Tapinko—had brought together 126 people from around the world and 40,000 pounds of cargo, including $1 million in medical supplies, which all travelled on an airplane chartered to fly to Haiti last month.

It was another drill for Groverman, who first began organizing relief efforts when Hurricane Katrina struck the Gulf Coast in 2005 and he gathered 40 students to head to New Orleans. But Groverman says another Philadelphia entity was helping drive his recent mission: Rittenhouse-based mobile payment startup Venmo.

Using the text message-based payment system, Groverman was able to raise $50,000 immediately—when that immediacy was vital. “Venmo [was] the whole backbone of our fundraising effort,” he says. “I cant imagine any nonprofit not using text message-based donation systems. There’s no need for a check, no need to go to a bank to deposit. I didn’t have time for checks to come.”

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