Mobile-payment apps upstage cash, checks with millennial users

Posted: August 25, 2014 at 2:06 a.m.

The Ebay Inc. Venmo application (app) is arranged for a photograph on an Apple Inc. iPhone 5s in Washington, D.C., U.S., on Friday, Aug. 22, 2014. After downloading the Venmo mobile-payment app onto a smartphone, users can connect them to bank and credit-card accounts, and then link up with friends to send and receive money on-the-go. Venmo, based in New York, alone handled $314 million in mobile payments in the first quarter of this year, up 62 percent from the prior quarter. Photographer: Andrew Harrer/Bloomberg

NEW YORK -- First, they ditched land telephone lines. Then they cut the cable-TV cord. Now, millennials are chucking their checkbooks and cash.

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