Write check, friend deposits with mobile check deposit app. Everyone has a bank of some sort, I have yet to meet anyone who is using Venmo.
Check method:
Needed items:
Payer - checkbook, pen
Payee - phone
Steps:
Payer Payee
Write check
Give check Receive check
Sign check
Use app to photograph and submit check
Needed items:
Payer - phone
Payee - phone
Steps:
Payer Payee
Send $x to Payee
Cash is a better equivalence to Venmo, but only works when you're physically collocated. And then requires one or both parties to carry around cash (and it's not as easy to be precise, if you care about getting it right down to the penny).
EDIT: Oh, apparently we're going to talk about their business model now instead. Jeez, it's hard to keep up.
Good luck with that long term!
Which is why check payments dominate larger transactions. Merchant fees are expensive compared to an ACH check fee (25 cents tops).
Unless you have some sort of obsolete bank then paying your landlord by check is just as easy/fast as any app.
This is how I pay rent:
1) login to bank website
2) click bill pay
3) put in amount in the right place (this was previously set up)
4) Click make payments
The bank then mails your landlord a check. You can even schedule payments automatically.
If get a new landlord:
1) click add company or person to pay
2) click person
3) Enter person's name, address, and phone number.
4) Click add person.
And do you expect your landlord to pay a premium to take a credit card?
You can also pay every one of your bills at the same time (credit cards, loans, etc...)
http://www.npr.org/sections/money/2013/10/04/229224964/episo... is a Planet Money episode that goes into details of how it works.
And I have never written a check.
I doubt the people in Venmo's demo even know where their checkbook is, if they have one at all.
I think we've had quite a few articles on HN that show that isn't true.
http://qz.com/277509/read-what-happens-when-a-bunch-of-over-...
Your kid's school doesn't take Venmo for field trips. Or school lunch programs. Or extracurricular activities. That's just to name a few "adult" things Venmo doesn't support, and requires a checkbook.
Great, you can pay friends back for rent, drinks, or eating out. #millenialproblems
If you're a parent, you're paying for things that require a check or cash. The check then become's "frictionless" as you already require it.
I can still see situations where I'd prefer this (or similar) to cash. For covers at bars ("oops, forgot to hit the ATM! Can you get me?"), for buying tickets to shows (to ensure we're seated near each other), and other situations. But they're still infrequent compared to a decade ago for me.