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What Is Venmo?

Mobile-based social commerce platform that enables users to carry out money transmission across all types of purchases. It helps with managing bookkeeping and receiving customer insights. Payments can be made through the app and in-person via a QR code.
Retailers can create a business profile to simplify checkout and appear in the Venmo's customer feeds. Customer loyalty is enhanced by the possibility of implementing targeted rewards and cash back experiences.

Who Uses Venmo?

Ideal for small to medium-sized enterprises, it is a mobile platform that helps users to carry out money transmissions.

Venmo Software - Venmo transfer balance
Venmo Software - Venmo view balance
Venmo Software - Venmo search
Venmo Software - Venmo split bill

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Reviews of Venmo

Average score

Overall
4.7
Ease of Use
4.7
Customer Service
4.4
Features
4.6
Value for Money
4.8

Reviews by company size (employees)

  • <50
  • 51-200
  • 201-1,000
  • >1,001
Michael
Michael
Owner in US
Verified LinkedIn User
Real Estate, Self Employed
Used the Software for: 1+ year
Reviewer Source

Venmo for Businesst

5.0 last month New

Pros:

It is a very robust platform with easy-to-use features for payees. The site accepts most major forms of payments and transfers money quickly for POS and CC payments.

Cons:

The accounting page could use some work with additional features to export data to cashflow management software

Courtney
Courtney
Owner in US
Verified LinkedIn User
Accounting, 2–10 Employees
Used the Software for: 1+ year
Reviewer Source

Alternatives Considered:

An Easy Payment System for the Entrepreneur

4.0 2 months ago

Comments: Overall, the experience has been good. When faced with issues, customer service is kind, but you have to be patient. The tickets go into a queue and you have to wait patiently for an email answer, which can go to your junk mail.

Pros:

Venmo is fast and easy to set up. Within a few minutes you can start taking payment for services and products sold. You can get paid in several different ways and even if the person doesn't have their card available.

Cons:

If you close down an account and open a new one, it is difficult to link accounts and get the debit card to work. You cannot have multiple business accounts attached to your personal account. If you change the name of the business it can be difficult to change over.

Nathaniel
Owner in US
Consumer Goods, 2–10 Employees
Used the Software for: 1+ year
Reviewer Source

Overall decent for pos and payment processing

3.0 2 months ago New

Pros:

The low fees associated with business account transactions.

Cons:

If you get locked out of your account it isn't easy to get back in. Their customer support was not very supportive. I never got access back to my account even after submitting my information and id verification

Nicky
Independent Stylist in US
Verified LinkedIn User
Textiles, 2–10 Employees
Used the Software for: 2+ years
Reviewer Source

Venmo is a safe way to transfer money.

5.0 3 months ago

Comments: I always had a good experience until recently. Will never use Venmo again

Pros:

It’s very easy to send and receive money through friends, as well as split payments. It’s also anonymous if you don’t want others to see your transaction.

Cons:

I don’t like how it froze my account with out notification or warning. Now I cannot access it at all, and still do no know why.

Ladonna
Utilizing management coordinator in US
Hospital & Health Care, 10,000+ Employees
Used the Software for: 2+ years
Reviewer Source

Good product but could be better

5.0 2 months ago

Pros:

How easy it is to process payments, received payments, and send payments

Cons:

They dont allow you to use prepaid debit cards