Venmo

4.7 (9,139)
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Digital wallet & mobile payment gateway

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
    (9,139)
    Value for Money
    4.8/5
    Features
    4.6/5
    Ease of Use
    4.7/5
    Customer Support Software
    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 9,139
    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 Software
    • Likelihood to recommend 10.0 /10

    Easy way to send and receive money

    Reviewed on 2021-09-27

    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 Software
    • Likelihood to recommend 10.0 /10

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

    Reviewed on 2023-09-07

    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!
    Susan
    Overall rating
    • 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 Software
    • Likelihood to recommend 0.0 /10

    Thieves

    Reviewed on 2023-07-10

    Pros

    Convenient…. They make it easy to receive funds but careful…. You may never see your money!!

    Cons

    I disputed a couple transactions from the same company that I never authorized. Well, Venmo shut my account down and froze it. I have given them my drivers license, passport, picture of the house number on my house, food stamp card, medical marijuana government ID card, Social Security card, food stamp card, bank card plus a selfie and they won’t release my funds! I think any idiot can figure out I’m exactly who I say I am!! They DONT CARE. After all, it’s not their money. They have had my money locked down for over a MONTH!! They refused to release it because I can’t provide bank statements on a gift card that I was trying to transfer funds to. Account Specialists are everything but! They tell you that the only department that can release the funds is through an account specialist and you sure can’t talk to them they only go by email. When you reply to the email and you send what you can to them, if it’s not exactly what they want, they send you the same email asking for the same stuff over and over again. No way will they give you the courtesy of speaking with you!! They don’t read what you’re saying and Nobody will call you. Management won’t do anything for you. They won’t get off their butts and get anything done. By not helping me and releasing my funds I have lost electricity and now have so many late fees it’s cost me $100.’s of dollars. I will continue to write a review on ANY platform I can. I’m waiting on a response from the attorney general and a lawyer.

    Mike
    Overall rating
    • Industry: Education Management
    • Company size: 11–50 Employees
    • Used Monthly for 2+ years
    • Review Source

    Overall rating

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

    Trusted and recognized payment option

    Reviewed on 2024-01-30

    A very good and trusted platform to offer to customers that do not wish to use credit cards.

    A very good and trusted platform to offer to customers that do not wish to use credit cards.

    Pros

    Customers already recognize this payment option and some prefer this over using their credit card.

    Cons

    There is a chance that the customer will choose the wrong recipient and that causes a lot of stress for them.

    Alternatives Considered

    PayPal

    Reasons for Switching to Venmo

    Recognized by customers and many already use it.
    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 Software
    • Likelihood to recommend 9.0 /10

    Great transfer times, SMALL fees.

    Reviewed on 2023-07-16

    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 9,139 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 Software, Phone Support

    Related categories

    See all software categories found for Venmo.