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 Synchronization
    • 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
    (5 461)
    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 5 461
    Sean D.
    Overall rating
    • Industry: Computer Software
    • Company size: 51-200 Employees
    • Used Daily for 2+ years
    • Review Source

    Overall rating

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

    Perfect for accepting payments as a small business and band

    Reviewed on 2021/04/11

    We use Venmo to accept many forms of payment for shows and merchandise sales and I could not be...

    We use Venmo to accept many forms of payment for shows and merchandise sales and I could not be happier with our results in doing so. We can now accept more in payment from fans and friends where in the past it was dependant upon whether they had cash in hand or not. I cannot say enough good things about Venmo in regard to is making the lives of small businesses and bands easier in the current time.

    Pros

    Makes taking payment for anything (t-shirts, vinyls, tickets) incredibly easy as the user pool is so vast that nearly anyone you come into contact with will have this app on their smartphone. It makes our lives as musicians increasingly easy as the world becomes more digital and has increased our revenue ten fold. We no longer have to swipe any cards or accept cash only as shows now that we use venmo as our primary point of sale.

    Cons

    SOmetimes the scanning of other profiles does not work as intended. This feature working properly is incredibly useful and when it works properly it takes out the guessing in payment forwarding which is very nice.

    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 2021/02/04

    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.

    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 2019/08/06

    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.

    Laura V.
    Overall rating
    • Industry: Cosmetics
    • Company size: Self Employed
    • Used Weekly for 2+ years
    • Review Source

    Overall rating

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

    Perfect for person-to-person, not the best for businesses

    Reviewed on 2021/01/13

    I use venmo for personal use outside of the business very regularly. I choose not to use it for my...

    I use venmo for personal use outside of the business very regularly. I choose not to use it for my business for the reasons I listed in my cons.

    Pros

    This is probably the easiest and most user friendly money transferring app that I have used.
    Venmo charges the user a very small percentage to do an instant transfer and there are no fees to do a transfer that takes 1-3 business days.
    If you are out for drinks and decide to put the bill on one person's card, you can easily send them money to cover your portion and they'll have it before the check even comes.
    If you need your money transferred to your bank immediately, you can have it within less than 3 minutes.
    Another pro is that nearly everyone has it on their phones these days and that keeps things simple.

    Cons

    It does keep track of your payments, received and sent; however, I feel that the use of venmo in a business is highly unprofessional and it can be a negative to the recipient. If a business owner or worker receives money for goods or services, they are charged a fee. While this fee percentage is very small, if you charge more than $100.00 for whatever your business provides, you're charged a fee and that adds up.
    For example, I sent money for $1,400.00 and received a very nasty email from the recipient saying that they were charged $14.00 just to pull the money.
    This is only with instant transfer, as I said, but it is something to be remembered for business owners.

    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 2021/02/18

    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 5 461 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.