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
Top 5 alternatives to Venmo
Key benefits of Venmo
Devices
Business size
Markets
United States
Supported Languages
English
Pricing starting from:
N/A
- Free Version
- Free Trial
- Subscription
Top 5 alternatives to Venmo
Images
Features
Total features of Venmo: 16
- ACH Payment Processing
- Customer Engagement
- Data Security
- 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
- Secure Data Storage
- Transaction History
Alternatives
PayPal
Cash App
Square Payments
Square Point of Sale
Reviews
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- Industry: Management Consulting
- Company size: 10,000+ Employees
- Used Weekly for 2+ years
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Review Source
Overall rating
- Ease of Use
- Customer Support
- Likelihood to recommend 9.0 /10
Ideal Payment Processing Software for Small Businesses
Reviewed on 08/12/2021
Perfect for small businesses and better than using a square device for accepting payments.
Perfect for small businesses and better than using a square device for accepting payments.
Pros
The app is just great. UI/UX, how they have defined different user personas and the ease of making a transaction is fantastic. Super quick and easy to transact with any third party, strong authentication mechanisms and auto-credit to the account on file. Making and receiving payments is the easiest I've seen, and much better than zelle, or Paypal.
User support is fantastic and there have been instances where I was fully refunded back when goods/services were not delivered as agreed upon.
Cons
It would be good to look at the credit worthiness/score and how reliable they are for their services. Currently there's no way to know (other than star ratings and sparse reviews at times).
Multi-lingual capabilities would be helpful too, especially when you are transacting with non-english speaking partners.
- Industry: Veterinary
- 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 7.0 /10
Venmo for business is a must
Reviewed on 06/01/2022
I think Venmo is a great option for businesses to accept payments. It has trust, security, and...
I think Venmo is a great option for businesses to accept payments. It has trust, security, and financial stability, so I don’t have to worry about mine or my customers information being stolen or my money being lost. I like that I am able to use across everything I need, from mobile payments to pos. It is so easy to use and I can track all of my sales and history easily.
Pros
I like the many payment options, the ease of use, and the trust I have for the company.
Cons
There are some features that should be more customizable, and the fees could be a bit more competitive.
Alternatives Considered
PayPalReasons for Choosing Venmo
The features were more convenient and it is easier to use and control my money.Switched From
PayPalReasons for Switching to Venmo
It has more versatility- Industry: Apparel & Fashion
- Company size: Self Employed
- Used Daily for 1+ year
-
Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 10.0 /10
Venmo business customer
Reviewed on 18/11/2021
Pleasant overall experience. This would be my number one choose over all the other apps with...
Pleasant overall experience. This would be my number one choose over all the other apps with similar features.
Pros
Easy to use. Easy to find people. Customers feel safe and secure with their payment thru Venmo. Helps keep my financial logs
Cons
Charging to do an instant transfer to my bank. Also the fee to use the business feature in Venmo. Why not just do my business on the free feature?
Alternatives Considered
Cash AppReasons for Switching to Venmo
Found it the most streamlined and easy to use. Also I found that most of my customers were using it already.- Industry: Consumer Services
- Company size: 2-10 Employees
- Used Weekly for 2+ years
-
Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 10.0 /10
Why your business needs Venmo!
Reviewed on 22/12/2021
I love using Venmo and prefer it to any other payment method - its just so darn easy to use! I love...
I love using Venmo and prefer it to any other payment method - its just so darn easy to use! I love it and you will too!
Pros
With Venmo your business never has to sacrifice an order for payment issues!
Venmo remains a top competitor in the payment processing market because of its versatility, ease of use, reliability, support and recognition - if you don’t have Venmo these days people start wondering what rock you’ve been hiding under!
Venmo’s user analytics and usability are top of the line and will make the payment of every sale the easiest part of the process!
Cons
I have nothing bad to report, the app is practically flawless for the purpose it serves! If there’s anything to perhaps improve upon initially it would be the inclusion of crypto currency as crypto will continue to rise in popularity around the world.
Reasons for Choosing Venmo
I use both but prefer Venmo for the fee structure, ease of use, and social acceptance - PayPal is great but it’s also potentially more dated and less popular with the younger generations.Switched From
PayPalReasons for Switching to Venmo
Venmo is again just the easiest to use and most popular amongst the younger generations. It’s trusted, reliable, and so easy anyone can do it!
- Industry: Business Supplies & Equipment
- Company size: 2-10 Employees
- Used Daily for 1+ year
-
Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support
- Likelihood to recommend 10.0 /10
Venmo Supports Entrepreneurs
Reviewed on 16/12/2021
I was having problems selling from my catalog because of a lack of variety in payment options. With...
I was having problems selling from my catalog because of a lack of variety in payment options. With a suggestion of this software to my clients as an added method of payment that problem has been resolved.
Pros
The best feature of this product is the ease-of-use. Transactions are recorded for both buyer and seller giving extra security all around. These two features make this product a must-have for startups for entrepreneurs.
Cons
I honestly cannot think of one thing that I dislike about this product.
Alternatives Considered
StripeReasons for Switching to Venmo
I chose venmo over stripe because of the popularity a venmo in my business and client circles.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:
Facebook for Business
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
See all software categories found for Venmo.
