Venmo
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
Square for Retail
Dayforce HCM
Samsung Pay
Eventbrite
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 Software
- 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.
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: Fine Art
- Company size: Self Employed
- Used Daily for 2+ years
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support Software
- Likelihood to recommend 10.0 /10
Yo Ho Venmo
Reviewed on 2024-02-02
The leader in digital, mobile and, in my opinion, small business cash handling. I’ve never had an...
The leader in digital, mobile and, in my opinion, small business cash handling. I’ve never had an issue with my account and when prompted to verify my information for securities sake I’ve been nothing but reassured my finances are in good hands.
Pros
Incredibly easy to learn and use with the most user friendly interface I’ve encountered to date. Venmo’s digital security and handling of my private information has always been secure and any changes to my account made by myself or otherwise are reported to my cell phone and email immediately.
Cons
Some forms of online debit cards are categorized as ‘pre-paid’ when they are in fact just debit cards issued from a strictly digital/online institution. These specific types of cards are therefore deemed unable to be used via connecting to your account.
Alternatives Considered
Square PaymentsReasons for Choosing Venmo
Too many issues with my personal and professional account coupled with some horror stories from colleagues, family members and friends about accounts being hacked, money disappearing and the arduous task of getting it returned.Switched From
Cash AppReasons for Switching to Venmo
With an innumerable amount of positive reviews for all aspects of the products function there seemed like no reason not to try it out. Over ten years later and still no complaints.- Industry: Hospitality
- Company size: 2–10 Employees
- Used Weekly for 1-5 months
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support Software
- Likelihood to recommend 0.0 /10
Bad experience with website and customers service
Reviewed on 2024-09-12
Pros
I was hoping it would be very useful in making payments from my small business
Cons
I set up my Venmo account six days ago and was continually having all my attempted payments declined. I called customer service and spent 1/2 hour on the phone with them adding a debit card and the payments were still declined. Customer service indicated my bank account information and debit card information was just fine and that there were some "security issues" which they couldn't explain and after all of that could only indicate my option was to keep trying. There was no supervisor to explain the situation and I still can't make any payments
- Industry: Health, Wellness & Fitness
- Company size: 501–1,000 Employees
- Used Weekly for 2+ years
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Likelihood to recommend 9.0 /10
Rancho Physical Therapy
Reviewed on 2024-07-25
I love using Venmo and will always use it weekly for anything
I love using Venmo and will always use it weekly for anything
Pros
I love how easy and fast it is to transfer money over to someone else or if someone gives me money and I can transfer within seconds to my bank account. When working at my other job my coworkers and I would always door dash and were constantly Venmoing each other back and forth, but it was always so fast and easy
Cons
There is only one thing I don't like about Venmo and it would be the fee it has, if I need or want to do an instant transfer
- Industry: Retail
- Company size: Self Employed
- Used Weekly for 1+ year
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Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support Software
- Likelihood to recommend 9.0 /10
Very easy to use
Reviewed on 2024-02-01
Overall I’d say it’s great. Very user friendly, easy to connect with people, and easy to transfer...
Overall I’d say it’s great. Very user friendly, easy to connect with people, and easy to transfer payments.
Pros
Very easy to use, take payments, and pay bills with. Customers can scan a qr code and pay instantly. Also have a credit card with Venmo and it works great for keeping track of my expenses.
Cons
They did cancel my card once when I was out of state without asking me, but I got a new one pretty quick.
Alternatives Considered
Cash AppReasons for Switching to Venmo
More user friendly, benefits with credit card, and more people use it.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 Software, Phone Support
Related categories
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