Usually means: Mobile app for sending money.
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We found 3 dictionaries that define the word venmo:

General (3 matching dictionaries)
  1. Venmo: Wordnik
  2. Venmo: Wikipedia, the Free Encyclopedia
  3. venmo: Wiktionary

Definitions from Wiktionary (Venmo)

noun:  (informal) An account on the Venmo peer-to-peer mobile payment system.
verb:  (intransitive, informal) To use the Venmo peer-to-peer mobile payment system, originally principally for splitting bills such as for food, drinks, entertainment, and transportation.
verb:  (ditransitive, informal) To transfer money to someone using the Venmo peer-to-peer mobile payment system.
verb:  Alternative letter-case form of Venmo. [(intransitive, informal) To use the Venmo peer-to-peer mobile payment system, originally principally for splitting bills such as for food, drinks, entertainment, and transportation.]

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