Venmo is now adding a very useful update with the ability to schedule both payments and requests. The feature has been long-desired and is finally making its way to Venmo users. You can use the toolset to send out one-time payments or requests, or schedule payments to go out monthly, weekly, or bi-weekly.

Then, users will receive a notification reminder the day before a payment goes out, which should notify you in case the funds aren't available. The platform will pull from the connected bank account if the Venmo account is dry.

Venmo says that 84 percent of consumers use peer-to-peer payment services to handle stuff like rent, utilities, and other living expenses. These scheduled payments will make your life easier and hassle-free as you won't have to forget to make your payment on time, for example (this, for one, is something I'm sometimes guilty of, even when I have the money).

This update comes after Venmo introduced several useful features to its platform. Last year, Venmo was integrated with tap-to-pay support for Android phones, which basically eliminates the need for shops and sellers to have a card reader to accept your payment. Also, Venmo has the ability to allow users to send cryptocurrencies to one another, another helpful thing (for people who do use crypto, which I am not one of).

More recently, Venmo got enhanced Venmo business profiles which makes it easier for people to discover small businesses. You now get subscribe buttons, profile rankings, and the ability to offer promotions. This can help you support local businesses and discover top-ranked ones straight from the app.

Venmo is an American payment service owned by PayPal and founded back in 2009. People with accounts can transfer money to others via its mobile phone app, while both the sender and receiver must live in the U.S. to benefit from the service.

I personally think the scheduled payments option is a great addition to the popular app, and I'm happy to find that this very useful feature is now on its way to people. Especially if you're the forgetful type, you'll be elated to know about this feature.