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Venmo Pricing, Features, Reviews and Alternatives

Venmo product overview

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.

Key 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.
  • Typical customers

    Freelancers
    Small businesses
    Mid size businesses
    Large enterprises

    Platforms supported

    Web
    Android
    iPhone/iPad

    Support options

    Email/Help Desk
    Knowledge Base
    FAQs/Forum
    Phone Support

    Training options

    Documentation

    Venmo pricing information

    Value for money

    4.8

    /5

    6,4k

    Starting from

    Free

    Pricing options

    Free plan
    Subscription
    Free trial
    Pricing range

    Value for money contenders

    Venmo features

    Functionality

    4.7

    /5

    6,4k
    Total Features22 4 categories

    Most valued features by users

    Reporting/Analytics
    Mobile Access
    Debit/Credit Card Processing
    Electronic Payments
    Data Storage Management
    Customer Engagement
    Data Security
    Request Assignment

    Functionality contenders

    Venmo users reviews

    Overall rating

    4.8

    /5

    6,4k

    Positive reviews

    96%

    Write a review
    Rating breakdown
    • Value for money
    • Ease of use
    • Features
    • Customer support
    • Likelihood to recommend9.2/10
    Rating distribution

    5

    4

    3

    2

    1

    5,229

    960

    180

    42

    27

    Pros
    I love how quick and easy it is to use, I love that it has profile pictures to help users know they are sending to the correct person. The scan feature is also really helpful.

    JB

    Julianne B.

    I like how easy it is to use not only among friends but any other vendors who have the software or app. I am always happy when a vendor uses Venmo because I know it's going to be an easy transaction.

    AS

    Aracely S.

    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.

    KK

    Karen K.

    Cons
    There is a potential of 'abuse' in that the transactions are irreversible. Also, the default setting is 'public.

    VL

    Vaidas L.

    If you are really desperate for the money immediately, then you have to pay a small percentage.

    DT

    Derek T.

    I understand from security reasons, but it is annoying. Apparently it is possible now, but has been a pain to figure out.

    AR

    Anonymous Reviewer

    Overall rating contenders

    Overall Rating

    Venmo for Business

    Reviewed 5 months ago

    Transcript

    John D.: Hi, hi there. My name is John, I'm the CEO of a fitness and wellness program and company, and...

    Overall Rating

    Venmo, Trusted brand

    Reviewed 4 months ago

    Transcript

    Justin R.: Hey, I'm Justin. I'm a pastor. I give Venmo a five star rating. For more reviews like this,...

    Overall Rating
    • Value for money
    • Ease of use
    • Features
    • Customer support
    • Likelihood to recommend9/10

    Share this review:

    Venmo is a great consumer product with limited use for business

    Reviewed 2 months ago

    Venmo's incredible ease of use makes it essential for interacting with other people with whom I might loan or pay money for simple things. For vendors, it's a solid way to get access to credit card payments with okay fees.

    Pros

    Venmo is dead simple to use, with the QR code scan and effortless options to ask for payments or send them. The number of people who signed up for Venmo also helps - most younger folks are on it.

    Cons

    The social aspect of the software is a bit odd in that I'm not in the least bit interested in what my friends are paying one another for. When people get funny, I suppose it could be entertaining but too much of the feed is people paying each other for rent, groceries and other mundane stuff. Additionally, this present a business challenge where you need to be cautious about posting your purchases if it's a private purchase for your business.

    Overall Rating
    • Value for money
    • Ease of use
    • Features
    • Customer support
    • Likelihood to recommend10/10

    Share this review:

    Venmo: anyone anywhere

    Reviewed 2 months ago

    I work with a lot of subcontractors, and I can't say how many times I am asked "Can you just Venmo me---?" At first I thought it was like "kleenex" and the name was just being used universally, I have since learned that people were asking specifically for Venmo.

    Pros

    Setting up and using immediately was a desirable feature. Being able to invoice vendors and pay personal no matter where I was or what time it was, is a convenience. The film industry doesn't have regular hours and people like to be paid when their work is done. Venmo makes that happen without having to wait. So far I have had no issue with paying vendors through Venmo. I can always look back for records of transaction

    Cons

    Big one! My tax accountant recently told me that Venmo receipts were not the best records for the IRS. I think the IRS just hasn't caught up yet or they don't like electronic receipts. Trying to help someone over the phone set it up has proven difficult in the past, but I believe that was human error

    Overall Rating
    • Value for money
    • Ease of use
    • Features
    • Customer support
    • Likelihood to recommend4/10

    Share this review:

    Middle of the Road

    Reviewed 2 years ago

    Well, given whatI've written above not a good time at all.

    Pros

    The user base is pervasive. Too many customers had Venmo, and not PayPal (but not both like me). No problems with the interface.

    Cons

    Main problem being the company's communications regarding my dispute of a via Venmo purchase: >>Your account is on hold. There wasn't enough money in your bank account for some payments you made, so Venmo covered the amount for you. You won't be able to pay people or transfer money to your bank account until you pay Venmo back. Pay Venmo back Amount you still owe $35.00<<o recourse to dispute...

    Overall Rating
    • Value for money
    • Ease of use
    • Features
    • Customer support
    • Likelihood to recommend10/10

    Share this review:

    Perfect for accepting payments as a small business and band

    Reviewed 4 months ago

    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.

    Overall Rating
    • Value for money
    • Ease of use
    • Features
    • Customer support
    • Likelihood to recommend10/10

    Share this review:

    A great tool with multiple payment method options!

    Reviewed 2 months ago

    My overall experience has been mostly positive. I am glad that the platform is so user-friendly and that many people seem to be using it as well, making it easy to pay people anytime. I am also glad that it is usually easy to find someone with the search tool to make sure I am paying the right person, and that you can add them as a friend so you can keep their information handy for future transactions.

    Pros

    Venmo is extremely easy to use! I love the ability to send money to anyone I owe right on the spot and their money can either be sent to their bank account or used right away.

    Cons

    The only thing I don't like about Venmo is that you can't choose your spending limit. They set it to $3000 and then if you verify your identity it can only be raised to about $6000. I would much rather have freedom on how much I can spend, or at least have some form of being able to give myself or another person the ability to withdraw as much as I'd like for a transaction, because it is MY money.

    Venmo FAQs and common questions

    Venmo has the following pricing plans:
    Pricing model: Free


    Venmo has the following typical customers:
    Freelancers, Large Enterprises, Mid Size Business, Small Business


    Venmo supports the following languages:
    English


    Venmo supports the following devices:
    Android, iPhone, iPad


    No, Venmo does not have an API available.


    Venmo integrates with the following applications:
    Facebook


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

    Related categories