Mobile and online P-to-P services may be the popular, mainstream payments service of choice for young people who don't prefer cash, but it also has a seedy underbelly, according to new survey data.

In a survey of more than 1,200 millennials using Venmo, nearly 33% said they used the service to pay for drugs such as marijuana or cocaine, and 21% cited Venmo as the payment vehicle to place bets or engage in gambling platforms. The survey was published by online student loan marketplace LendEDU, which says it singled out Venmo because 68% of respondents to an earlier survey say they use the service.

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