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.

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

    Images

    Send or request payments with a message and emojis
    Comment on or like other contact's payment actions
    Customers can pay for items using mobile check-out
    Send confirmation emails and e-tickets to customers post-purchase
    Transfer money using a contact's name, @username, phone or email
    Users can attach a note or description with each payment
    Share payments with friends and contacts
    Connect with people and share moments
    View 9 more
    Venmo video
    Venmo screenshot: Send or request payments with a message and emojis Venmo screenshot: Comment on or like other contact's payment actions Venmo screenshot: Customers can pay for items using mobile check-out Venmo screenshot: Send confirmation emails and e-tickets to customers post-purchase Venmo screenshot: Transfer money using a contact's name, @username, phone or email Venmo screenshot: Users can attach a note or description with each payment Venmo screenshot: Share payments with friends and contacts Venmo screenshot: Connect with people and share moments

    Features

    Total features of Venmo: 22

    • ACH Payment Processing
    • Account Reconciliation
    • Authentication
    • Commenting / Notes
    • Customer Engagement
    • Data Security
    • Data Storage Management
    • 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
    • Request Assignment
    • SSL Security
    • Secure Data Storage
    • Transaction History

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    Reviews

    Overall rating

    4.8 /5
    (5,433)
    Value for Money
    4.8/5
    Features
    4.6/5
    Ease of Use
    4.8/5
    Customer Support
    4.5/5

    Already have Venmo?

    Software buyers need your help! Product reviews help the rest of us make great decisions.

    Write a Review!
    Showing 5 reviews of 5,433
    Melissa T.
    Overall rating
    • Industry: Writing & Editing
    • Company size: 2-10 Employees
    • Used Weekly for 1+ year
    • Review Source

    Overall rating

    • Ease of Use
    • Likelihood to recommend 10.0 /10

    Perfect Alternative to PayPal

    Reviewed on 4/2/2021

    It was a little difficult initially to set up. I found it to be a bit confusing and the...

    It was a little difficult initially to set up. I found it to be a bit confusing and the instructions provided felt vague.

    Pros

    Venmo makes sending cash to service providers, family, and friends effortless. You are allowed the option to split costs for services with other users as well. Unlike some other services, there isn't a fee associated with different payment types. You are even allowed the option to receive and use a Venmo issued debit card that allows access to your balance without having to transfer funds to an outside account.

    Cons

    Paypal gave service providers to issue an invoice to a client that could be itemized. With Venmo, although you can request money or payments, there is no ability to break down individual components of the service cost. You are able to (and required to) note what the request or payment is for, but that isn't as comprehensive.

    Andy S.
    Overall rating
    • Industry: Entertainment
    • Company size: 2-10 Employees
    • Used Daily for 2+ years
    • Review Source

    Overall rating

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

    Amazing Payment Solution for Many Applications

    Reviewed on 29/3/2021

    Venmo has always been a great experience and very intuitive...even for people who aren't...

    Venmo has always been a great experience and very intuitive...even for people who aren't technologically inclined. Everyone we have used it with or introduced it to has continued to use it afterwards with great results. We plan on using it for even more as it allows in the future. It's much easier and quicker than PayPal which seems to have been the standard until now.

    Pros

    Venmo is an incredibly easy and fast way to transfer money between people in a company for expenses and more as well as accept payments for merchandise (with the new business account options) and even pay people for their services. Since multiple people can be logged on, it allows 4 of us to operate financially when necessary without a delay. You can easily write what each payment is for and download monthly statements to keep accurate records of all of your transactions. Even better, most people have it and use it now so compatibility is rarely an issue. It makes everything we do faster and our customers even more pleased as they can pay for merchandise, tickets, or even simply donate at the click of a button!

    Cons

    The only tough thing about Venmo that rarely arises is if someone doesn't use it. In that case, we need to have a paypal or cash option ready but that's not an actual problem with the application itself. It would be great if they could add annual statements to their download option in addition to the monthly statements. Annual statements would save some time during tax season!

    Igor G.
    Overall rating
    • Industry: Arts & Crafts
    • Company size: 2-10 Employees
    • Used Other 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.

    Verified Reviewer
    Overall rating
    • Industry: Newspapers
    • Company size: 11-50 Employees
    • Used Monthly for 2+ years
    • Review Source

    Overall rating

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

    Very efficient and popular

    Reviewed on 27/2/2021

    Since integrating Venmo as an additional payment option that my clients can utilize to pay their...

    Since integrating Venmo as an additional payment option that my clients can utilize to pay their invoices, my collections have gone down, the average age on debt was cut in half and my business has actually increased because the level of trust clients have in me increased as they saw me as more of a partner than a vendor. All around, my business has benefited greatly .

    Pros

    the first thing is that it is very simple to register, add an account and implement. the second pro is the fact that so many people are using Venmo. I thought it would be a challenge to implement as a business tool to collect payments from clients but I was very wrong. In fact, the majority of the clients I approached with this option were already registered.

    Cons

    the 2 biggest challenges to overcome were the security concerns people have about providing payment and account information online and chance of it being hacked. Having done the research on the product, those concerns were quickly alleviated and Venmo actually provided me with collateral to give my clients who had such concerns. the second challenge was overcoming the "Social Media" aspect. Venmo obviously gained it's popularity from the consumer side by incorporating a social media feel to it. Businesses on the other hand do NOT want their payments, collections, etc. broadcast in social media platform. It takes some convincing but once the ease with which payments can be obtained from their customers and how that can help increase revenues is properly explained, 9 of 10 clients jumped on board.

    Annabella claire H.
    Overall rating
    • Industry: Primary/Secondary Education
    • Company size: 10,000+ Employees
    • Used Monthly for 2+ years
    • Review Source

    Overall rating

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

    Venmo Is Wonderful

    Reviewed on 18/2/2021

    Overall, this is an app that tons of people use worldwide and makes life easier. I’ve never had an...

    Overall, this is an app that tons of people use worldwide and makes life easier. I’ve never had an issue with it and I like the easy-to-use interface. Best current way to send money quickly.

    Pros

    I feel like everyone I know uses Venmo! That makes it extremely easy to pay friends and family for various reasons. The app is very easy to use and doesn’t cost anything unless you transfer money in certain ways (which I’ve never done and haven’t felt the need to at all). I feel like the security and privacy of my information is good, which is vital for an app these days.

    Cons

    Only con I can think about is that if you send money to the wrong username/account, I’ve heard it is basically impossible to get back unless the person gives it back willingly. That is why I always recommend people use the scan option with the QR-code so the odds of sending funds to the wrong person go down dramatically. Also, there is a $2,000 per month limit for transfers from what I can tell. I’ve never had a problem with that.

    Showing 5 reviews of 5,433 Read all reviews

    Venmo FAQs

    Below are some frequently asked questions for Venmo.

    Venmo offers the following pricing plans:

    • Pricing model: Free
    • Free Trial: Not Available

    Contact Venmo for detailed pricing information.

    We do not have any information about Venmo features

    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

    Venmo offers the following support options:

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

    Related categories

    See all software categories found for Venmo.