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.
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Reviews of Venmo
Perfect for accepting payments as a small business and band
Comments: 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.
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.
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.
Comments: In summary, using Venmo provides many benefits, such as saving time and effort in making payments, improving data security and control, providing multiple payment options, and enabling easy mobile payments.
Among the advantages of Venmo, ease of use and quick transfer of funds between properties and the establishment of billing offices between friends and family. The app also allows sending messages and photos with payment.
One of the disadvantages of Venmo is that it requires a US bank account to use and that it imposes limits on the number of monthly transactions, in addition to a banking obstruction in some aspects if you are outside the United States, In addition to the price of using Venmo, it is free for people using US bank accounts, but fees are charged for transactions made using a credit card.
Do Not Use Venmo!
You can pay people quickly. There are no other pros.
I purchased concert tickers from a Venmo user after they had offered them on Facebook. I investigated the person before purchasing and felt like they were legitimate. Turns out, they were a scammer so I spent over $400 using the balance I had on my Venmo and did not receive the tickets. I IMMEDIATELY called Venmo to try to get my money back. The first Customer Service representative that I talked to said that the best they could do was submit a ticket to an Account Specialist and that they would get back to me in the next 24 hours. The rep. also told me that if the scammers move that money into their personal bank account that it would be out of their hands and they would not be able to give me a refund. I asked if they could expedite my ticket since I only had a day or 2 before it will go into their bank account. He said they can't do that. I said "You can't even call and just ask if that's a possibility?" He said no. 24 hours pass by and I hadn't heard anything so I called Customer Service again and the second representative I talked to said that I was given false information and it's going to take 6-7 days for them to investigate the situation. I asked her if there is anyway to expedite my ticket, especially since I was told it would be taken care of already. She said no. I ask again, "Can you call them and just ask since this is time sensitive and by tomorrow you guys won't be able to help me at all?" She says no. I will never use Venmo again.
Comments: I have had a very positive experience with Venmo and I constantly recommend it to friends.
I like that it is free, free to transfer money into bank account, Venmo credit card and can add friends from contact list.
I wish the Transaction History section said the caption like it used to before the app update. I wish I could transfer my balance for free the same day.
Perfect Free Payment Processor
Comments: My experience with Venmo has been great, we have used them for years and plan on using them for many more years.
Venmo is a great, free way to pay our contractors, collect rent and other payments. We have been using it for years primarily because of its ease of use on the go as well as the fact that it is free. It is easy to use and set up.
The payments can take a few days to get to your bank account and there are limits to the daily amount you can send. Whmever is sending/receiving the money also needs to be a Venmo user which can be a problem occasionally.