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SPECIFICTION
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Venmo

venmo.com

Free plan WebiOSAndroid
Visit venmo.com
Spec score 8.3 #26 of 81 in Money Transfer Apps

What it is

Venmo lets users send money to friends, pay businesses, and check out when shopping. It runs on Android, iOS, and the web, with instant transfers, tracking, and scheduled payments. Users can split group expenses, send gift cards, and add Venmojis or GIFs to payments. Business profiles separate business from personal transactions; businesses can also offer Venmo checkout in apps or mobile websites. With a compatible mobile device, a business profile can accept cards, Apple Pay, Google Pay, and other digital wallets through Tap to Pay.

Venmo says it encrypts transactions and account information, monitors activity for unauthorized transactions, and supports multifactor authentication and app PINs. Eligible purchases may qualify for Purchase Protection when marked as purchases in the app, but payments to people users do not know lack buyer and seller protection. Personal accounts cost nothing for transfers from a balance, debit card, or bank account; credit card payments cost 3.00%, and Instant Transfer costs 1.75% (minimum $0.25 fee, maximum $25 fee). Business profiles have no monthly or setup fees, but transaction fees apply. Venmo use requires being in the United States and having a U.S. bank account.

Spec sheet

Free plan
YesRead 20 Sep 2026 · venmo.com
Security
Venmo says it encrypts transactions and account information, monitors account activity for unauthorized transactions, and supports multifactor authentication and app PINs.Read 4 Oct 2026 · venmo.com
Support
Venmo directs users to its Help Center for customer support and lists automated and live-agent customer service as having no fee.Read 4 Oct 2026 · venmo.com
Headquarters
San Jose, California, United StatesRead 28 Sep 2026 · venmo.com
Founded
2009Read 28 Sep 2026 · venmo.com
Company
Venmo says it has been an app for payments between friends since 2009 and is owned by PayPal.Read 4 Oct 2026 · venmo.com
Availability
The user agreement says users must be in the United States and have a U.S. bank account to use Venmo services.Read 4 Oct 2026 · venmo.com
Business use
Business profiles are designed for sole proprietors, casual sellers, and small businesses, and keep business and personal transactions separate.Read 4 Oct 2026 · venmo.com
Checkout integrations
Businesses can offer Venmo checkout in their apps or on their mobile websites.Read 4 Oct 2026 · venmo.com
Exchange-rate model
markupRead 20 Sep 2026 · venmo.com
Mobile platforms
bothRead 20 Sep 2026 · venmo.com
Payments
Venmo lets users send money to friends, pay businesses, and check out when shopping.Read 4 Oct 2026 · venmo.com
Personal payment limits
Venmo says it does not offer buyer or seller protection for payments between users who do not know each other.Read 4 Oct 2026 · venmo.com
Purchase protection
Venmo says eligible purchases can receive Purchase Protection when users mark the payment as a purchase in the app.Read 4 Oct 2026 · venmo.com
Scheduled transfers
YesRead 20 Sep 2026 · venmo.com
Social features
Users can split group expenses, schedule payments, send gift cards, and add Venmojis or GIFs to payments.Read 4 Oct 2026 · venmo.com
Tap to Pay
A business profile can accept cards, Apple Pay, Google Pay, and other digital wallets using a compatible mobile device.Read 4 Oct 2026 · venmo.com
Transfer speed
instantRead 20 Sep 2026 · venmo.com
Transfer tracking
YesRead 20 Sep 2026 · venmo.com
Upfront fee display
YesRead 20 Sep 2026 · venmo.com

Plans and prices

Personal Venmo account Free Monthly fee: $0.00 Sending to Venmo accounts using balance, debit card, or bank account: $0.00 · Credit card payments: 3.00% · Instant Transfer: 1.75% (minimum $0.25 fee, maximum $25 fee) Read 4 Oct 2026 · venmo.com
Venmo business profile Free No monthly or setup fees; transaction fees apply Direct and QR code payments: 1.9% + $0.10 · Tap to Pay transactions: 2.9% + $0.09 · Fees are non-refundable Read 4 Oct 2026 · venmo.com

Every Venmo plan and price →

Strong points and limits

Strong points

  • Available on Android, iOS, and web
  • Supports instant and scheduled transfers
  • Business profiles separate business and personal transactions
  • Eligible purchases may receive Purchase Protection

Limits

  • Use requires a U.S. bank account and U.S. location
  • Credit card payments cost 3.00%
  • Instant Transfer costs 1.75%, with a $0.25 minimum
  • Unknown-person payments lack buyer and seller protection

Who it suits

Venmo suits people in the United States with a U.S. bank account who want to send money, split expenses, or pay businesses. Its business profiles are intended for sole proprietors, casual sellers, and small businesses.

Verdict

Venmo combines personal payments and business checkout with social payment features and transfer tracking. Check the transaction fees and protection limits, especially when paying people you do not know.

Where Specifiction places it

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