Venmo behavior study: Venmo customers want to use Venmo to shop on merchant’s sites. 

Feb 10 2021 | PayPal Editorial Staff

A new Venmo behavior study explores valuable insights for small businesses to consider to reach a broader audience, including Venmo customers' financial habits, their purchasing behaviors, and their perceptions of Venmo as a payments tool.

A glimpse into the findings:
 

  • Venmo skews younger and more affluent.
  •  65% of Venmo customers have increased their online purchasing behavior while 65% reduced their in-store habits.
  • Venmo customers express overwhelming interest to pay with Venmo at merchants if presented the option. 47% of customers are interested in paying with Venmo if offered.
  • Venmo is the most preferred tipping method to Venmo customers after cash and cards when paying for a service.
  • 89% of consumers prefer to pay with Venmo because they trust the brand, it's ease of use, and because it allows them to split transactions.

For a deeper dive into Venmo users purchasing habits, download the full study.


The content of this article is provided for informational purposes only. You should always obtain independent business, tax, financial, and legal advice before making any business decision.

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