About Venmo

Venmo is a digital wallet and payment gateway that allows customers to make payments and transfer money via mobile device. Businesses are able to offer a new social currency to a mobile-first audience, as well as generate exposure for the brand as users share their purchases on the Venmo feed.

The solution allows users to make payments by linking their bank accounts or debit cards directly via the app, or by transferring the money stored within their Venmo account. Besides initiating payments, consumers can send and receive payments from friends and contacts by selecting a contact's name, @username, phone number or email. All transfers can be stored as a Venmo balance for use at a later time, or cashed out immediately to a bank account.

The platform provides an intuitive user experience and speedy checkout system that enables customers to buy event tickets and pay for items with a few taps. Users can share their purchases with friends on their Venmo feed, as well as make comments and add emojis to payment descriptions and other contact’s shared purchases.

Users must link a credit card, debit card or checking account in order to use the service. Venmo safeguards payment data with encryption, allowing customers to pay safely and securely.

Pricing starting from:

N/A

  • Free Version
  • Free Trial
  • Subscription

Key benefits of Venmo

  • Brands are able to generate exposure as users share their purchases with friends or contacts via the Venmo feed.

  • Venmo helps users stay in control of what they owe, what others owe them, and what they've bought.

  • Organizations can allow customers to pay them as easily as they pay their friends, with fewer taps and a speedy checkout system.

  • Venmo safeguards payment information using data encryption, enabling customers to securely pay contacts and transfer money to bank accounts.

  • Customers are able to find contacts automatically by syncing their Facebook account or phone contacts, and split and share payments.

  • Devices

    Business size

    S M L

    Markets

    United States

    Supported Languages

    English

    Pricing starting from:

    N/A

    • Free Version
    • Free Trial
    • Subscription

    Images

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    Features

    Total features of Venmo: 16

    • ACH Payment Processing
    • Customer Engagement
    • Data Security
    • Data Synchronisation
    • Debit/Credit Card Processing
    • Electronic Payments
    • In-Person Payments
    • Mobile Access
    • Mobile Payments
    • Online Payments
    • Partial Payments
    • Point of Sale (POS)
    • Promotions Management
    • Reporting/Analytics
    • Secure Data Storage
    • Transaction History

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    Reviews

    Overall rating

    4.8 /5
    (7,416)
    Value for Money
    4.8/5
    Features
    4.6/5
    Ease of Use
    4.8/5
    Customer Support
    4.5/5

    Already have Venmo?

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    Showing 5 reviews of 7,416
    Eric r. B. Eric r. B.
    Overall rating
    • Industry: Internet
    • Company size: 2-10 Employees
    • Used Weekly for 2+ years
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Likelihood to recommend 9.0 /10

    Venmo is a great consumer product with limited use for business

    Reviewed on 7/6/2021

    Venmo's incredible ease of use makes it essential for interacting with other people with whom I...

    Venmo's incredible ease of use makes it essential for interacting with other people with whom I might loan or pay money for simple things. For vendors, it's a solid way to get access to credit card payments with okay fees.

    Pros

    Venmo is dead simple to use, with the QR code scan and effortless options to ask for payments or send them. The number of people who signed up for Venmo also helps - most younger folks are on it.

    Cons

    The social aspect of the software is a bit odd in that I'm not in the least bit interested in what my friends are paying one another for. When people get funny, I suppose it could be entertaining but too much of the feed is people paying each other for rent, groceries and other mundane stuff. Additionally, this present a business challenge where you need to be cautious about posting your purchases if it's a private purchase for your business.

    Alternatives Considered

    PayPal

    Reasons for Choosing Venmo

    Venmo is easier and in use by more people than PayPal.

    Switched From

    PayPal

    Reasons for Switching to Venmo

    More people have Venmo and it's not tied to Zelle's limited bank list.
    Aaron P. Aaron P.
    Overall rating
    • Industry: Information Technology & Services
    • Company size: Self Employed
    • Used Monthly for 1+ year
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Likelihood to recommend 7.0 /10

    Venmo offers and quick and easy way to send and receive money, but has questionable privacy

    Reviewed on 20/10/2021

    Beyond the privacy issues, Venmo is really easy to use and a fairly good experience. If it was not...

    Beyond the privacy issues, Venmo is really easy to use and a fairly good experience. If it was not for the fact that transactions are made public by default, I would easily recommend Venmo to everyone.

    Pros

    Venmo makes it really easy to send and receive money to friends, family and businesses.

    The setup is relatively painless, especially if your bank supports "Plaid" verification (otherwise you will need to manually enter your bank account info and wait a day or two for verification). Venmo also support sending/receiving payment via credit cards or debit cards, but with a 3% processing fee.

    In addition, Venmo supports business profiles (as by default, theoretically, your profile is for personal use only).

    Cons

    The absolute biggest downside to Venmo is its questionable privacy policies and settings. By default, all of your transactions are made public, anyone who knows your username can see what transactions you have made (both sending and receiving). You can change these settings, but Venmo makes it unnecessarily difficult - first you need to change your privacy settings to "private," making all of your future transactions private; second you need to make all of your past payments private, as even by changing your settings to "private" this will only affect future transactions. Perhaps more troubling is that Venmo largely hides its privacy policies.

    Business profiles are nice, as to make it more "legitimate," but they do come at a cost of 1.9% + 10¢ per transaction. This is fairly typical, but it is always frustrating that the same service is free for personal use but not for business use.

    Alternatives Considered

    PayPal and Cash App

    Reasons for Switching to Venmo

    I use a combination of different payments apps beyond Venmo including Square Cash, PayPal and Apple Pay and Zelle. Each have their benefits/pitfalls, but you can easily use one or all of the options without them conflicting with each other.
    Igor G. Igor G.
    Overall rating
    • Industry: Arts & Crafts
    • Company size: 2-10 Employees
    • Used for 1+ year
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 4.0 /10

    Middle of the Road

    Reviewed on 6/8/2019

    Well, given whatI've written above not a good time at all.

    Well, given whatI've written above not a good time at all.

    Pros

    The user base is pervasive. Too many customers had Venmo, and not PayPal (but not both like me).
    No problems with the interface.

    Cons

    Main problem being the company's communications regarding my dispute of a via Venmo purchase:

    >>Your account is on hold.
    There wasn't enough money in your bank account for some payments you made, so Venmo covered the amount for you.

    You won't be able to pay people or transfer money to your bank account until you pay Venmo back.

    Pay Venmo back
    Amount you still owe
    $35.00<<o recourse to dispute or contend the charge because Venmo handled the transaction but refused to it when the didn't go through and I canceled the payment.o one to speak to, no one to contact, robot menus that cover all options except the reason you're calling, call centers with employees with no powers to do anything about a problem without asking their supervisor.

    This usually involves another long wait on hold and transfer to someone who must be explained the issue all over again from scratch. I estimate that I have had to explain my sometimes simple issue over and over 4 times. Because no one can be bothered to brief the person you're transferring the call to!

    To me this reeks of bad management bad training and a faulty power sructure.

    Alternatives Considered

    PayPal and Workplace by Facebook

    Reasons for Switching to Venmo

    I didn't. I use both products. I just use PayPal a lot more than Venmo.
    Krishnamoorthy K. Krishnamoorthy K.
    Overall rating
    • Industry: Marketing & Advertising
    • Company size: 2-10 Employees
    • Used Weekly for 1-5 months
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 10.0 /10

    Easy way to send and receive money

    Reviewed on 27/9/2021

    Venmo does not charge recurring fees, such as monthly or yearly fees, like other payment services....

    Venmo does not charge recurring fees, such as monthly or yearly fees, like other payment services. When sending money from a bank account, debit card, or your Venmo balance, there are no fees charged. Payment apps charge a 3 percent fee for credit card transactions, which is typical throughout the industry. There are also no fees associated with receiving money or transferring it to your bank account, unless you choose an immediate transfer rather than a regular transfer.
    Venmo has a unique selling point in that it is not your normal payment app. Likes, comments, and messages are linked to each payment in this payments software, which incorporates popular social network elements such as likes, comments, and messages. Others, on the other hand, believe that it makes money transfers more enjoyable, which some users find to be true.

    Pros

    It is quick and simple to use. Finally, but certainly not least, it has a large user base, which means that many of your connections may already be using it. Venmo's success may be attributed in large part to its simplicity of use. There is very little of a learning curve. You may download it and begin sending and receiving money within minutes of installing it. Using Venmo to divide costs is also a breeze since it provides an on-screen calculator when you transfer or request money from someone. You may also send or request the same amount from several people at the same time if you're sharing a bill with a group of people.

    Cons

    Once you've made a payment via Venmo, there is no way to reverse it. The money is sent promptly to the intended recipient. If you need a payment to be refunded, Venmo advises that you contact the receiver and request the money back. Other than that, you may request that Venmo's customer service reverse the payment on your behalf; however, they can only do so if the receiver accepts, if their account is in good shape, and if they still have the cash in the bank.

    Alternatives Considered

    Payoneer

    Reasons for Choosing Venmo

    Venmo had more features and a better mobile user interface.

    Switched From

    Cash App

    Reasons for Switching to Venmo

    Personal transactions can be made using Venmo, instantly.
    Cynthia T. Cynthia T.
    Overall rating
    • Industry: Computer Networking
    • Company size: 11-50 Employees
    • Used Daily for 2+ years
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 9.0 /10

    Great Value

    Reviewed on 19/10/2021

    Overall it's a great product for modern folks. Although our older clientele won't use it for...

    Overall it's a great product for modern folks. Although our older clientele won't use it for payments, this is a great and secure way to make sure our payments are received quickly and seamlessly.

    Pros

    Venmo is a great software in the sense that anyone can download, use, and deploy. It's fairly easy to use and benefits all transactions small and large with options of both bank accounts and credit cards.

    Cons

    There seems to be a lag with venmo at times when trying to connect, receive, or make payments. The search function could be a little more intuitive and it should have a more clear cut dashboard.

    Alternatives Considered

    Cash App

    Reasons for Switching to Venmo

    Venmo is backed by PayPal which we already have a business account with
    Showing 5 reviews of 7,416 Read all reviews

    Venmo FAQs

    Below are some frequently asked questions for Venmo.

    Venmo offers the following pricing plans:

    • Pricing model: Free Version
    • Free Trial: Not Available

    Contact Venmo for detailed pricing information.

    Venmo has the following typical customers:

    Self Employed, 2-10, 11-50, 51-200, 201-500, 501-1,000

    Venmo supports the following languages:

    English

    Venmo supports the following devices:

    Android (Mobile), iPhone (Mobile), iPad (Mobile)

    Venmo integrates with the following applications:

    Facebook for Business

    Venmo offers the following support options:

    Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support

    Related categories

    See all software categories found for Venmo.