Venmo

Venmo

Digital wallet & mobile payment gateway

4.8/5 (1704 reviews)

Venmo Overview

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
Pricing options
Free Trial
Free
Value for money

Devices

Business size

S
M
L

Markets

United States

Supported Languages

English

Venmo Reviews

Overall rating
4.8/5
97% positive reviews
1414
Excellent
245
Very good
38
Average
8
Poor
3
Terrible
Aman S.

Best for everything

Used Daily for 2+ years
Reviewed on 2019/09/09
Review Source: Capterra

Overall experience with Venmo is great. It is best for both personal and professional money exchange.

Pros

This is a paypal product and we all know about PayPal. The product have all the creatures of PayPal and in addition to that it offers several benefits as well. The feature that I like the most is the offers and cash back rewards which are very frequent and recurring. This product helped me a lot and saved me hundreds of dollars.

Cons

The product is very well overall but this is not an acceptable form of payment everywhere. Small businesses and companies, sores etc are not able to process the payments which went through Venmo. They should expands their reach.

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

9.0/10
Anne L.

MUST HAVE SOFTWARE!!!

Used Daily for 2+ years
Reviewed on 2019/07/23
Review Source: Capterra

VENMO CHANGED MY LIFE. Paying friends, student groups, organization, small businesses have never been easier.

Pros

Ok - if there is a software that I can say that TRUELY changed my life, it would be Venmo. Venmo is such an easy software to use to transfer money between people. Whether it be splitting the bill between coworkers or completing business transactions, Venmo is the #1 app. Forget Paypal - Venmo trumps all. No one carries cash anymore... Venmo has been an integral part of fundraising at Cal (and in my daily life). My organization and other student groups on campus use Venmo to collect payment for things that we sell on campus - such as food, stickers, trinkets, etc.

Cons

I wish there were business profiles for Venmo. For example, small businesses and organizations could create business profiles that many members of the organization can access so there can be more transparency with the funds.

Rating breakdown

Ease of Use

Likelihood to recommend

10.0/10
Tommy S.

Venmo is an absolute essential!

Used Weekly for 2+ years
Reviewed on 2019/09/06
Review Source: Capterra

My overall experience with Venmo has been amazing. Never have had any issues or problems with using the software. It’s constantly being updated and I just really can’t emphasize enough how much better it is than any other products I’ve looked into.

Pros

I love using Venmo to get paid and to pay others! It’s so easy and simple to use and the best part about it is that it’s free! Free to sign-up and free to send and receive money. A lot of other softwares make you pay fees to receive money and even send it which is totally annoying. With Venmo, I can get paid and transfer the money to my bank account totally free, and if I need to get the money instantly, then I can pay a small 1% fee to instantly transfer the funds into my account. Look no further, Venmo is a great option for handling funds!

Cons

The only thing I can say about Venmo as constructive criticism is that it would be so helpful if you could pay yourself! As a small business that accepts payment through Venmo, it’d be so nice to be able to pay myself from my business account to my personal checking. Other than that, I really think this software is awesome!

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

10.0/10
Verified Reviewer

Venmo is a TOP Choice to Send Money

Used Weekly for 2+ years
Reviewed on 2019/05/02
Review Source: Capterra

I use this app weekly for small payments and paybacks here and there. Sometimes a client asks to use this app instead of any other payment source so being able to track that is imperative. I have never had an issue with my funds with this app and that makes me feel secure and happy to keep using the app. I use it even more than paypal, cashapp or any other payments received app.

Pros

I've been using Venmo for years now and the main things I like about the app are ease of use and low/no fees. I constantly have people ask me if I use Venmo which means mainstream adoption. Its easy to send payments to others or receive them, especially with the QR code. And I've never had an issue with the app or transfer of funds. I love how funds are instant transactions and quickly done in a few moments time.

Cons

I feel it could use some more features such as transaction history, download .csv files and I don't feel the community feature really adds anything to the software itself. Literally no reason for it in my opinion. Perhaps allowing to buy, accept or transfer cryptocurrencies would be good (like Cash app does). I've heard rumors of limiting the amount of received funds in a month and some accounts have been blocked for this?

Rating breakdown

Value for Money
Ease of Use
Customer Support

Likelihood to recommend

10.0/10
Virginia B.

Convenient, entertaining, FREE, and fast

Used Daily for 1+ year
Reviewed on 2018/06/13
Review Source: GetApp

Pros

Did you know the root of the word convenient actually stems from the Latin word “ven”? That’s exactly what Venmo is. And the inspiration behind the name Venmo actually came from the word vendo/vendere; the Latin word “to sell”. Venmo is one of my favorite apps, I use on a daily basis. It has served as a lifesaver to me on many occasions when I did not have my wallet or cash in hand. You can transfer money to someone else almost instantly and will receive a notification when they have accepted the transaction, so you don’t have to wonder. Transfers from your Venmo to your banking account will show up as quickly as the next business day (as long as it doesn’t fall on the weekend or a holiday). One of the best features of Venmo is that you are not charged a transaction fee when you transfer money between your banking account using a debit card. But, the best part is the free entertainment… If you ever want a little laugh, go and take a look at some of the reasons other people have used Venmo. It’s pretty funny (especially over the weekends). If you are looking for a free, entertaining alternative to PayPal, Venmo will definitely satisfy your needs.

Cons

If your Venmo account is connected to a credit card you will be charged a small fee when you make transfers between the two. I would not necessarily see this as a fault in Venmo because you still have the free option available to you by using a debit card.

Rating breakdown

Ease of Use

Likelihood to recommend

10.0/10

Venmo Pricing

Starting from
N/A
Pricing options
Free Trial
Free
Value for money

Contact Venmo for detailed pricing information.

Venmo Features

  • Electronic Payments

  • API
  • Access Control
  • Activity Dashboard
  • Automatic Notifications
  • Content Management
  • Custom Forms
  • Customizable Branding
  • Customizable Templates
  • Data Import/Export
  • Drag & Drop Interface
  • Product Catalog
  • Reporting & Statistics
  • Search Functionality
  • Social Media Integration
  • Template Management
  • Third Party Integration
  • Website Management
  • eCommerce Integration
  • eCommerce Management

Additional information for Venmo

Key features of Venmo

  • Account settings
  • Commenting
  • Data encryption
  • Data storage
  • E-tickets sent via email
  • Emojis
  • LInk bank accounts and debit cards
  • Make payments
  • Mobile-first
  • Money transfers
  • PIN code
  • POS (point of sale)
  • Passwords & authorizations
  • Payment check-out
  • Purchases
  • Request money
  • Share payments
  • Social currency
  • Split bills
  • Sync with Facebook and phone contacts
  • Track payments

Benefits

  • 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.

  • Venmo FAQs

    Below are some frequently asked questions for Venmo.

    Q. What type of pricing plans does Venmo offer?

    Venmo offers the following pricing plans:

    Pricing model: Free

    Free Trial: Not Available

    Contact Venmo for detailed pricing information.

    Q. What are the main features of Venmo?

    Venmo offers the following features:

    • Account settings
    • Commenting
    • Data encryption
    • Data storage
    • E-tickets sent via email
    • Emojis
    • LInk bank accounts and debit cards
    • Make payments
    • Mobile-first
    • Money transfers
    • PIN code
    • POS (point of sale)
    • Passwords & authorizations
    • Payment check-out
    • Purchases
    • Request money
    • Share payments
    • Social currency
    • Split bills
    • Sync with Facebook and phone contacts
    • Track payments

    Q. Who are the typical users of Venmo?

    Venmo has the following typical customers:

    Freelancers, Mid Size Business, Small Business

    Q. What languages does Venmo support?

    Venmo supports the following languages:

    English

    Q. What type of pricing plans does Venmo offer?

    Venmo has the following pricing plans:

    Free

    Q. Does Venmo support mobile devices?

    Venmo supports the following devices:

    Android, iPhone, iPad

    Q. What other apps does Venmo integrate with?

    Venmo integrates with the following applications:

    Facebook, Givebutter

    Q. What level of support does Venmo offer?

    Venmo offers the following support options:

    FAQs, Knowledge Base, Online Support, Phone Support