Business app of the week: Venmo

The app that allows you to make instant payments to friends, colleagues or clients instantly and then let others know about it.

How much: Free

What is it?. When out networking or meeting potential clients for business, it can be tricky when it comes to paying the bill. If you're both using your credit card, one person may pay or it can take time for the waiter to take payments from the two. Using Venmo one person can transfer the money from their account to their dining partners instantly. They then have the option to share the news that they've paid for dinner and how much it cost with their friends.

Why do we like it? Firstly, it's convenient as it makes paying for a business lunch easier. Secondly, it's a way of showing people that you're out and about networking. It gives people another way of getting in touch and if they saw you ate at restaurant they like, they might get in touch to go with you next time. Venmo also offer corporate expense accounts, for free, to start-ups and businesses to help them manage expenses and reimbursements for their employees.

Available on: Compatible with iPhone, iPod touch, and iPad. Requires iOS 4.3 or later. Also available on Android and on the web

For more information and to download Venmo, click here.

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