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Venmo Logo

Digital wallet & mobile payment gateway

Last updated: November 2024

Venmo - 2024 Pricing, Features, Reviews, & Alternatives

Table of Contents

What is 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.

Benefits of using 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.
  • Starting from

    Free

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    Venmo's key features

    GetApp's analysis of 1134 verified user reviews collected between July 2021 and October 2024 identified Venmo's most critical features and how it performs according to users.

    Features

    4.6

    /5

    9.1K

    Ease of use

    4.8

    /5

    9.1K

    Mobile Access

    Reviewers appreciate Venmo's mobile access capabilities. They find it convenient to check account balances, send and receive payments, and manage transactions on the go. Users report that the mobile app is well-organized and easy to use, allowing them to perform transactions quickly and securely. They highlight the ability to use Venmo on various devices, including smartphones and tablets, which enhances flexibility and productivity. Many users mention the convenience of using QR codes for payments and the overall accessibility of the app. Of the 216 Venmo users who gave detailed accounts of their use of Mobile Access, 100% rated this feature as important or highly important.


    Mobile Payments

    Reviewers indicate that Venmo's mobile payments feature is highly valuable. They appreciate the ability to send and receive money instantly from anywhere, which is particularly useful for businesses and personal transactions. Users highlight the convenience of processing payments without needing physical cash or cards, and they enjoy the social aspect of labeling transactions with messages or emojis. They also mention the security benefits, such as not having to share financial information over the phone. Of the 515 Venmo users who gave detailed accounts of their use of Mobile Payments, 97% rated this feature as important or highly important.


    Payment Processing

    Users report that Venmo's payment processing is efficient and reliable. They appreciate the quick and easy transfer of funds, whether sending money to friends, family, or clients. Reviewers mention the convenience of linking bank accounts, credit cards, and debit cards to fund transactions. They find the QR code capability for payments particularly useful. However, some users have experienced issues with account freezes and delays in transferring money to linked bank accounts. Of the 247 Venmo users who gave detailed accounts of their use of Payment Processing, 97% rated this feature as important or highly important.


    Data Security

    Reviewers feel confident in Venmo's data security measures. They highlight the use of encryption, two-factor authentication, and multi-factor authentication to protect user information. Users appreciate the platform's ability to flag unusual transactions and verify new payment sources. They also mention the option to make transactions private and the overall trust Venmo instills in its users. However, a few users have reported issues with account freezes and lack of support in resolving security concerns. Of the 559 Venmo users who gave detailed accounts of their use of Data Security, 96% rated this feature as important or highly important.


    Online Payments

    Reviewers appreciate Venmo's online payment capabilities. They find it easy to make and receive payments through the app or via the Venmo debit card. Users highlight the convenience of using Venmo for various transactions, such as paying rent, utilities, and online purchases. They also mention the integration with select online merchants and the ability to link Venmo accounts to other payment platforms. However, some users note that Venmo is not as widely accepted as PayPal for online retail. Of the 496 Venmo users who gave detailed accounts of their use of Online Payments, 91% rated this feature as important or highly important.


    Debit/Credit Card Processing

    Reviewers indicate that Venmo's debit and credit card processing is convenient and efficient. They appreciate the ability to link multiple cards and bank accounts to their Venmo account for seamless transactions. Users highlight the ease of connecting cards and the quick processing of payments. They also mention the Venmo debit card, which allows for in-store purchases and provides rewards. However, some users have experienced issues with certain cards not being accepted and account freezes. Of the 402 Venmo users who gave detailed accounts of their use of Debit/Credit Card Processing, 87% rated this feature as important or highly important.


    All Venmo features

    Electronic Payments
    Transaction History
    In-Person Payments
    Point of Sale (POS)
    ACH Payment Processing
    Reporting/Analytics
    Partial Payments
    Promotions Management
    Sales Reports

    Venmo awards

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    Venmo pricing

    Pricing options
    Free plan
    Subscription
    Free trial
    Pricing range

    Value for money

    4.8

    /5

    9.1K

    Starting from

    Free

    Venmo support options

    Typical customers

    Freelancers
    Small businesses
    Mid size businesses
    Large enterprises

    Platforms supported

    Web
    Android
    iPhone/iPad

    Support options

    Email/Help Desk
    Knowledge Base
    Phone Support
    FAQs/Forum

    Training options

    Documentation

    Venmo reviews

    Overall rating

    4.7

    /5

    9.1K

    Positive reviews

    95

    %

    Rating breakdown
    • Value for money
    • Ease of use
    • Features
    • Customer support
    • Likelihood to recommend9.13/10
    Rating distribution

    5

    4

    3

    2

    1

    7.3K

    1.4K

    295

    81

    57

    Pros
    Makes for easy transfers in or out of my bank account and customer service is AMAZING. Customer Service is also available through chat, and I LOVE that.
    I love Venmo and would recommend it to anyone who needs an easy way to send or request money. I have found it to be more user friendly than PayPal and other similar products.
    The app is super easy to navigate and also is great for paying friends, because there is no fees like with paypal. The app is super inexpensive and an even be completely free if used a certain way.
    Cons
    It is still hard to find our business even with the exact handle and there is no way to retract a payment if sent to wrong person. That's a little nerve racking if a client gets our @name wrong.
    I understand from security reasons, but it is annoying. Apparently it is possible now, but has been a pain to figure out.
    There is a potential of 'abuse' in that the transactions are irreversible. Also, the default setting is 'public.

    Venmo FAQs

    Q. What type of pricing plans does Venmo offer?

    Venmo has the following pricing plans:
    Pricing model: Free

    These products have better value for money


    Q. Who are the typical users of Venmo?

    Venmo has the following typical customers:
    Freelancers, Large Enterprises, Mid Size Business, Non Profit, Public Administrations, Small Business


    Q. What languages does Venmo support?

    Venmo supports the following languages:
    English


    Q. Does Venmo support mobile devices?

    Venmo supports the following devices:
    Android, iPad, iPhone


    Q. Does Venmo offer an API?

    No, Venmo does not have an API available.


    Q. What other apps does Venmo integrate with?

    Venmo integrates with the following applications:
    PayPal, Braintree


    Q. What level of support does Venmo offer?

    Venmo offers the following support options:
    Email/Help Desk, Knowledge Base, Phone Support, FAQs/Forum

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