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Peer-to-peer digital payments have become quite popular over the last several years. Rather than paying back friends and family or paying bills via cash or check, you can simply send or request the exact amount of money right from your phone. One of the most popular peer-to-peer payment apps today is Venmo.

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With millions of users, Venmo is looking to revolutionize peer-to-peer digital payments, and they recently released a new feature you might not know about. Here’s how it works .

Venmo Allows Users To Schedule Payments and Requests

In October 2024,  PayPal Newsroom put out a press release explaining a convenient new feature that might help you take the work out of manually making and requesting payments .

It’s now possible for Venmo users to schedule one-time or recurring payments or requests with friends and family in advance. This includes one-time payments or recurring payments on a weekly, bi-weekly or monthly basis. With 84% of consumers using a peer-to-peer payment service to do things like pay the rent or utility bill, Venmo is making it easier to automate your expenses. This is also a great feature to pay for things like a weekly tutoring session or a biweekly Sunday lunch with your family, for example.

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“We’re excited to introduce this highly requested feature, which offers an easy way to set up and manage one-time and recurring payments in the Venmo app to continue our commitment to delivering the best possible P2P experiences for our users,” said Alexis Sowa, vice president and general manager at Venmo.

How To Schedule Payments and Requests in the Venmo App

As outlined by Venmo, here are the exact steps to set up a one-time or recurring payment in the Venmo app:

1. Select Pay/Request.

2. Confirm the recipient of the one-time or recurring payment.

3. Tap the “Schedule” button.

4. Confirm the frequency and dates for the one-time or recurring payment.

5. Tap “Save.”

6. Confirm the payment amount.

7. Tap “Pay.”

8. Select “Schedule Payment.”

If you’re looking to set up a scheduled payment request, here are the steps you’ll need to follow:

1. Select Pay/Request.

2. Confirm the recipient of the one-time or recurring payment request.

3. Confirm the frequency and dates for the one-time or recurring payments.

4. Tap “Save.”

5. Confirm the payment amount.

6. Tap “Request.”

7. Select “Schedule Request.”

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This article originally appeared on GOBankingRates.com : The Top Venmo Feature That’s a Game Changer, But Not Many Know About