MILWAUKEE, WI—The financial mobile app, “Venmo” is knocking on parents’ 529 plans this coming academic school year.
“Part of being a Jesuit institution is keeping up with the ever-expanding digital world,” said Joanne Zimms, CFO of the Office of Finance.
“Venmo” is a popular mobile banking app that allows people to send and receive money from people with just a swipe of a finger.
“We understand that checks and wire transfers from banks are from a previous generation,” explained Joanne Zimms. “If switching to a popular technology can increase our revenue margins, then we’re all for it.”
Incoming sophomore, Mary Yunis, has mixed feelings about the change. “It’s already a bit unnerving to ‘Venmo’ someone for an Uber ride, now I have to Venmo my school over 15,000 for tuition.”
Marquette University will still give students the option to pay traditionally for the 2017-2018 school year, but that will not always be the case.
“Our goal is to transition to mobile banking apps in the next two years,” said Joanne Zimms.