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.

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    Reviews

    Overall rating

    4.7 /5
    (9,128)
    Value for Money
    4.8/5
    Features
    4.6/5
    Ease of Use
    4.7/5
    Customer Support
    4.4/5

    Already have Venmo?

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

    Showing 5 reviews of 9,128
    Krishnamoorthy
    Krishnamoorthy
    Overall rating
    • Industry: Marketing & Advertising
    • Company size: 2–10 Employees
    • Used Weekly for 1-5 months
    • Review Source

    Overall rating

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

    Easy way to send and receive money

    Reviewed on 27/09/2021

    Venmo does not charge recurring fees, such as monthly or yearly fees, like other payment services....

    Venmo does not charge recurring fees, such as monthly or yearly fees, like other payment services. When sending money from a bank account, debit card, or your Venmo balance, there are no fees charged. Payment apps charge a 3 percent fee for credit card transactions, which is typical throughout the industry. There are also no fees associated with receiving money or transferring it to your bank account, unless you choose an immediate transfer rather than a regular transfer.
    Venmo has a unique selling point in that it is not your normal payment app. Likes, comments, and messages are linked to each payment in this payments software, which incorporates popular social network elements such as likes, comments, and messages. Others, on the other hand, believe that it makes money transfers more enjoyable, which some users find to be true.

    Pros

    It is quick and simple to use. Finally, but certainly not least, it has a large user base, which means that many of your connections may already be using it. Venmo's success may be attributed in large part to its simplicity of use. There is very little of a learning curve. You may download it and begin sending and receiving money within minutes of installing it. Using Venmo to divide costs is also a breeze since it provides an on-screen calculator when you transfer or request money from someone. You may also send or request the same amount from several people at the same time if you're sharing a bill with a group of people.

    Cons

    Once you've made a payment via Venmo, there is no way to reverse it. The money is sent promptly to the intended recipient. If you need a payment to be refunded, Venmo advises that you contact the receiver and request the money back. Other than that, you may request that Venmo's customer service reverse the payment on your behalf; however, they can only do so if the receiver accepts, if their account is in good shape, and if they still have the cash in the bank.

    Alternatives Considered

    Payoneer

    Reasons for Choosing Venmo

    Venmo had more features and a better mobile user interface.

    Switched From

    Cash App

    Reasons for Switching to Venmo

    Personal transactions can be made using Venmo, instantly.
    Mary Jane
    Overall rating
    • Industry: Construction
    • Company size: 11–50 Employees
    • Used Weekly for 2+ years
    • Review Source

    Overall rating

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

    Venmo is my Favorite go to tool. DAY OR NIGHT! It's doable!

    Reviewed on 07/09/2023

    Venmo has made a huge difference in my life professionally and personally. You've made is possible...

    Venmo has made a huge difference in my life professionally and personally. You've made is possible to worry less about taking care of those I love and are responsible for! You have truly made a difference!!

    Pros

    The security, the efficient and fast process. I love that I don't need my bank open or any business open to take care of what needs to be taken care of now! Day or Night, I have the access I need to get whatever is needed done!

    Cons

    I always get turned around trying to find new contacts. It's an older generation thing!

    Alternatives Considered

    PayPal, Cash App and eCardWidget.com

    Reasons for Switching to Venmo

    It's so much faster and simple, no nonsense, no invasion into my life, I don't get a hundred ads everyday and they just have respected my privacy!
    Paige
    Paige
    Overall rating
    • Industry: Health, Wellness & Fitness
    • Company size: 501–1,000 Employees
    • Used Daily for 2+ years
    • Review Source

    Overall rating

    • Value for Money
    • Ease of Use
    • Customer Support
    • Likelihood to recommend 0.0 /10

    Do Not Use Venmo!

    Reviewed on 17/06/2022

    Pros

    You can pay people quickly. There are no other pros.

    Cons

    I purchased concert tickers from a Venmo user after they had offered them on Facebook. I investigated the person before purchasing and felt like they were legitimate. Turns out, they were a scammer so I spent over $400 using the balance I had on my Venmo and did not receive the tickets. I IMMEDIATELY called Venmo to try to get my money back. The first Customer Service representative that I talked to said that the best they could do was submit a ticket to an Account Specialist and that they would get back to me in the next 24 hours. The rep. also told me that if the scammers move that money into their personal bank account that it would be out of their hands and they would not be able to give me a refund. I asked if they could expedite my ticket since I only had a day or 2 before it will go into their bank account. He said they can't do that. I said "You can't even call and just ask if that's a possibility?" He said no.

    24 hours pass by and I hadn't heard anything so I called Customer Service again and the second representative I talked to said that I was given false information and it's going to take 6-7 days for them to investigate the situation. I asked her if there is anyway to expedite my ticket, especially since I was told it would be taken care of already. She said no. I ask again, "Can you call them and just ask since this is time sensitive and by tomorrow you guys won't be able to help me at all?" She says no.

    I will never use Venmo again.

    Kathy
    Kathy
    Overall rating
    • Industry: Government Administration
    • Company size: 2–10 Employees
    • Used Weekly for 1+ year
    • Review Source

    Overall rating

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

    Venmo transforms the sales process

    Reviewed on 05/02/2024

    I have had only good experiences thus far. I do e-commerce as a side hustle and prefer Venmo to...

    I have had only good experiences thus far. I do e-commerce as a side hustle and prefer Venmo to other forms of payment because it's simple to use, it's been a trustworthy program, and I get instant notifications when I am paid.

    Pros

    I love having Venmo as an option as opposed to exchanging cash and checks. With Venmo, money is accepted and then with a few clicks, you can have it transferring to your bank account. The turnaround time for deposit is quick and you do have the option to expedite it. It saves me trips to the bank and saves me having to exchange money in hand.

    Cons

    I have heard that there are some individuals attempting to scam others on the platform which makes me a little less confident in its overall operation. Additionally, if you accidentally send to the wrong individual, there's no recourse that I'm aware of except their mercy in refunding your money. So the responsibility is on you to verify that you are sending to the correct individual.

    Mac
    Overall rating
    • Industry: Hospitality
    • 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 9.0 /10

    Great transfer times, SMALL fees.

    Reviewed on 16/07/2023

    Great app and features, amazing customer service, will continue to use in the future.

    Great app and features, amazing customer service, will continue to use in the future.

    Pros

    it's features are wide ranged and very useful, the ability to memo and categorize my payments is very handy for bookkeeping later on.

    Cons

    the only con I can think of is the small percentage that Venmo takes out of EACH transaction

    Alternatives Considered

    Square Payments, Cash App and Stripe

    Reasons for Switching to Venmo

    Reviews, features, and recommended by fellow friend.
    Showing 5 reviews of 9,128 Read all reviews

    Venmo FAQs

    Below are some frequently asked questions for Venmo.

    Venmo offers the following pricing plans:

    • Pricing model: Free Version
    • Free Trial: Not Available

    Contact Venmo for detailed pricing information.

    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:

    Braintree, PayPal

    Venmo offers the following support options:

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

    Related categories

    See all software categories found for Venmo.