Venmo is a social payments service used by millions of people to make and share payments with friends, family, and select approved businesses. It’s similar to PayPal, but is unique in that Venmo allows users to share and like payments and purchases through a social feed. The service is popular with the millennial generation.
● Users can make payments by linking their bank account, debit/credit card or by using their Venmo balance.
● Once a bank account is connected, users can easily transfer their Venmo balance to their bank account.
● Users can transfer money quickly using a friend’s phone number, email address or username. If a recipient doesn’t have a Venmo account and a payment is sent using their email address or phone number, the recipient can create an account in order to receive the funds. If they chose to, users can also find friends automatically by syncing their Facebook account or phonebook.
● Splitting payments with friends and family like a dinner bill, concert tickets or the cost of a road trip is one of the most popular uses of Venmo.
● Many Venmo users like to share their payments and purchases on the Venmo social feed with a fun comment. The actual payment amounts are hidden.
● Find out more about the Venmo checkout experience and additional details.
What will my customer see?
If your customer has opted-in to make payments through Venmo, they will be presented with an option to pay with their Venmo account after clicking your PayPal payment button.
Please note: Venmo users will receive a Venmo-branded transaction receipt in addition to any receipt you currently provide.
1. Customer selects the PayPal payment button:
2. Venmo payment option is presented:
3. Venmo payment is made:
4. Return to merchant payment confirmation page:
Will I have to change my integration with PayPal to accept Venmo payments?
What are the costs to accept Venmo payments?
There is no additional cost to accept Venmo. You will pay the same fees for Venmo payments as you do for PayPal payments.
Will Venmo transactions be covered by PayPal's Seller Protection Policy?
Yes, the PayPal Seller Protection Policy will apply to Venmo-funded transactions received through your PayPal account. To learn more about the PayPal Seller Protection Policy eligibility requirements, click here.
Are payments made by Venmo users through my PayPal account subject to the PayPal Purchase Protection Policy?
Venmo payments are covered by the Venmo Authorized Merchant Payment Protection Policy, which generally mirrors the PayPal Purchase Protection Policy, but varies in some places. To learn more, read the Venmo Authorized Merchant Payment Protection policy.
Can my business be promoted through the Venmo app?
Yes. Venmo users have the option to share purchases in their Venmo social feed. This could include the purchases they make on your site. Note, purchase price won’t be included in their social posts.
Is this available to merchants or consumers outside of the US?
Currently, Venmo is only accepted within the US and with US merchants.
Will Venmo payments be available for desktop transactions?
At launch, Venmo payments will only be available for mobile transactions. Desktop support may be available in the future.
Will Venmo pass the consumer’s shipping addresses to me?
If your current PayPal integration is set up to receive shipping address, this will not change with the Venmo option.
For more information on Venmo purchases, visit the Venmo Help Center.