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
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Alternatives
Samsung Pay
Square for Retail
Eventbrite
Meta for Business
Reviews
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- Industry: Computer Software
- Company size: 51–200 Employees
- Used Daily for 2+ years
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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 11/04/2021
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.
Alternatives Considered
Square PaymentsReasons for Switching to Venmo
Venmo is much more widely accepted by our customer base and therefore the decision was a no-brainer for me and my team.- Industry: Retail
- Company size: Self Employed
- Used Weekly for 2+ years
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 10.0 /10
Great App for Smaller businesses
Reviewed on 21/11/2023
Venmo overall is a great program. I hope by the time my business expands Venmo has updates so that...
Venmo overall is a great program. I hope by the time my business expands Venmo has updates so that my future employees will be able to use the platform my customers trust.
Pros
I love that Venmo is quick and easy to use on my phone. It's great for personal transactions as well as business transactions. Easy to transfer into the bank accounts and minimal fees. I like the trust my customers have with Venmo.
Cons
Once we grow further, it will be hard to use Venmo if I have employees who are not present with me. I love the idea of the app but I'll have to come up with another way to take payments or switch programs.
- Industry: Gambling & Casinos
- Company size: Self Employed
- Used Monthly for 2+ years
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 2.0 /10
Venmo - A Mild Failure
Reviewed on 20/10/2023
Abysmal
Abysmal
Pros
At least transferring to my bank is easy
Cons
I don't like Public transaction history
- Industry: Writing & Editing
- Company size: 2–10 Employees
- Used Daily for 2+ years
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 10.0 /10
A P2P must have
Reviewed on 20/09/2023
Venmo is a must have. It's more safe and secure than cash app and customer service is great!
Venmo is a must have. It's more safe and secure than cash app and customer service is great!
Pros
Venmo is very secure. I feel safe and at ease anytime that I use venmo. Plus I can send money to my people without the hassle.
Cons
There's only one thing that upset me. I lost all the info to my old account and opened a new one and they offer 10$ when you open one but since I had one before I wasn't allowed to get it.
- Industry: Design
- Company size: 1,001–5,000 Employees
- Used Weekly for 1+ year
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 10.0 /10
An easy way to send and receive money
Reviewed on 21/11/2023
I'm very comfortable with using Venmo because it has great security and it's trustworthy
I'm very comfortable with using Venmo because it has great security and it's trustworthy
Pros
Venmo takes the stress out of receiving and sending money for me, it has a user friendly interface as well so it's easy to work with.
Cons
I am satisfied with using Venmo so there's no cons for me
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 Version
- Free Trial: Not Available
Contact Venmo for detailed pricing information.
Q. Who are the typical users of Venmo?
Venmo has the following typical customers:
Self Employed, 2–10, 11–50, 51–200, 201–500, 501–1,000
Q. What languages does Venmo support?
Venmo supports the following languages:
English
Q. Does Venmo support mobile devices?
Venmo supports the following devices:
Android (Mobile), iPhone (Mobile), iPad (Mobile)
Q. What other apps does Venmo integrate with?
Venmo integrates with the following applications:
Braintree, PayPal
Q. What level of support does Venmo offer?
Venmo offers the following support options:
Email/Help Desk, FAQs/Forum, Knowledge Base, Phone Support
Related categories
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