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Venmo

Venmo for Business

Composite Score

7.9 /10

CX Score

8.1 /10

31 Reviews Write a Review

What is Venmo for Business?

Accept Venmo payments in your app, online, or in person and tap into our active community of more than 60 million people.

Company Details

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Awards & Recognition

Venmo for Business won the following awards in the Payment Processing category

Filter By

3 Top Rated Capabilities

6 Top Rated Features

Latest Award, 2024

1 Top Rated Capabilities

5 Top Rated Features

2023

3 Top Rated Capabilities

4 Top Rated Features

2022

Venmo for Business Ratings

Real user data aggregated to summarize the product performance and customer experience.
Download the entire Product Scorecard to access more information on Venmo for Business.

Product scores listed below represent current data. This may be different from data contained in reports and awards, which express data as of their publication date.

87 Likeliness to Recommend

97 Plan to Renew

90 Satisfaction of Cost Relative to Value

1
Since last award

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Emotional Footprint Overview

Product scores listed below represent current data. This may be different from data contained in reports and awards, which express data as of their publication date.

+91 Net Emotional Footprint

The emotional sentiment held by end users of the software based on their experience with the vendor. Responses are captured on an eight-point scale.

How much do users love Venmo for Business?

0% Negative

5% Neutral

95% Positive

Pros

Efficient Service
Performance Enhancing
Trustworthy
Effective Service

Feature Ratings

Average 87

Credit Card Processing

Mobile Payments

Digital Wallet Integration

Security

Multi Currency

Integration With Accounting System

Recurring Payments

POS Integration

E-Commerce Integration

POS Verification

Reporting Analytics

Vendor Capability Ratings

Average 83

Ease of Implementation

Ease of Customization

Business Value Created

Usability and Intuitiveness

Availability and Quality of Training

Ease of IT Administration

Breadth of Features

Quality of Features

Product Strategy and Rate of Improvement

Vendor Support

Ease of Data Integration

Venmo for Business Reviews

Tamika M.

Role: C-Level
Industry: Technology
Involvement: End User of Application

Validated Review

Verified Reviewer

Submitted Nov 2024

Fastest payment processing in the world.

Likeliness to Recommend

9 /10

What differentiates Venmo for Business from other similar products?

Venmo stands out a lot within the payment sector due to the validation of online payments, this wallet is one of the few that is capable of processing payments almost immediately and having very few limitations, which allows you to have access to the money received almost immediately. Venmo also stands out for having extremely low commissions for each transaction of sending or receiving money in the wallet, and also applies very low commisions for sending in international currencies, which makes the wallet can be used for multiple purposes for national or international payments.

What is your favorite aspect of this product?

The platform in general works very quickly and is very easy to use, this helps users only have to write an email address and enter an amount to be able to send money, it's that easy. Venmo has a good linking of payment methods, you can link your bank account and use the money from your account in this wallet, the wallet debits the total amount and the payment is processed, you can also make payments with debit cards in just seconds. Venmo also allows you to convert currencies, this is very important if the users want to make international payments, the exchange rate is very good compared to other online wallets.

What do you dislike most about this product?

The Venmo support team is something that could be improved a little, currently they take a long time to attend to any request, this is very negative because if you have a problem with a payment you have recently made, you must wait more than 48 hours for a response. Claims and disputes also take a long time to process, this dispute processing time could improve a little.

What recommendations would you give to someone considering this product?

I recommend anyone to make payments accurately and without mistakes, since as I mentioned previously, the Venmo support team takes a long time to attend to these types of requests. I recommend that you make payments online after making the necessary confirmations to process this payments, this way you will avoid inconveniences.

Pros

Continually Improving Product
Reliable
Performance Enhancing
Trustworthy

Kota G.

Role: Student Academic
Industry: Technology
Involvement: End User of Application

Validated Review

Verified Reviewer

Submitted Jan 2024

Checkmate

Likeliness to Recommend

10 /10

What differentiates Venmo for Business from other similar products?

Work in most areas of the world,

What is your favorite aspect of this product?

Whenever I use the Venmo credit card gives me 3% cash back on every eligible purchase.

What do you dislike most about this product?

Take long time to verify the account details.

What recommendations would you give to someone considering this product?

Business account collects money on my behalf and do withdrawal after customers paying and allows cryptocurrency investments.

Pros

Reliable
Performance Enhancing
Efficient Service
Inspires Innovation

Samantha C.

Role: C-Level
Industry: Other
Involvement: End User of Application

Validated Review

Verified Reviewer

Submitted Nov 2023

Great for sending and receiving payments

Likeliness to Recommend

9 /10

What differentiates Venmo for Business from other similar products?

QR code for adding of customers makes it simple to use.

What is your favorite aspect of this product?

Free to use and simple and reliable.

What do you dislike most about this product?

Nothing bad to say

What recommendations would you give to someone considering this product?

Try it you will love it!

Pros

Helps Innovate
Continually Improving Product
Reliable
Performance Enhancing

Latest Research

Venmo for Business

What is Venmo for Business?

Company Details

Need Assistance?

Awards & Recognition

Venmo for Business Ratings

87 Likeliness to Recommend

97 Plan to Renew

90 Satisfaction of Cost Relative to Value

1 Since last award

Emotional Footprint Overview

+91 Net Emotional Footprint

How much do users love Venmo for Business?

Pros

Feature Ratings Average rating of all product features, some of which may not be shown below

Credit Card Processing The ability to process credit card payments and receive approval or rejection of funds from the customer's bank

Mobile Payments The ability to process mobile payments from a mobile wallet or other mobile phone payment app

Digital Wallet Integration The ability to process payments from a digital wallet service or another digital payment method

Security Built-in security to protect payment information to prevent fraud and hacking

Multi Currency Allows users to process payments in multiple currencies

Integration With Accounting System Provide integration with accounting software and ERP systems

Recurring Payments The ability to schedule payments at a cadence

POS Integration The ability to integrate with a POS system to allow the processing of credit card or mobile payments in a store setting

E-Commerce Integration The ability to integrate directly with an e-commerce platform to create a seamless checkout experience

POS Verification Support cardholder verification methods for POS transactions

Reporting Analytics Reports and analytics created from payment data

Vendor Capability Ratings Average rating of all vendor capabilities, some of which may not be shown below

Ease of Implementation Successfully implementing new software is necessary to realize its full value and promote end user adoption. This data indicates whether or not the product is easy to implement.

Ease of Customization Don't get bogged down in a difficult customization; use this data to make sure you can easily achieve the functionality you need for your particular situation.

Business Value Created Software needs to create value for employees, customers, partners, and, ultimately, shareholders. This data expresses user satisfaction - or lack thereof - with the product's business value.

Usability and Intuitiveness End user learning curves cost the organization money. Pay attention to your end users' technical ability to determine how important UX is in your purchase.

Availability and Quality of Training Effective and readily available training enables users to get the most out of the software you've chosen. Use this section to make sure your vendor's training programs and materials measure up.

Ease of IT Administration This data indicates whether IT personnel will be able to resolve issues and perform configurations efficiently and effectively.

Breadth of Features Users prefer feature rich software that enables them to perform diverse series of tasks. This data expresses user satisfaction with the product's breadth of features.

Quality of Features Feature quality is just as important as quantity. Use this data to determine if this product will do what you're purchasing it to do, easily, intuitively, reliably, and effectively.

Product Strategy and Rate of Improvement Vendors who don't stay on top of emerging needs and trends won't enable you to meet your business goals. Use this data to separate innovators from imposters.

Vendor Support The importance of vendor support will vary for each organization depending on internal capabilities, but there will always be issues that only the vendor can resolve.

Ease of Data Integration Use this data to determine whether the product will cause headaches or make data integration easy.

Venmo for Business Reviews

Tamika M.

Fastest payment processing in the world.

Likeliness to Recommend

Pros

Kota G.

Checkmate

Likeliness to Recommend

Pros

Samantha C.

Great for sending and receiving payments

Likeliness to Recommend

Pros

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Title

1
Since last award

Feature Ratings

Credit Card Processing

Mobile Payments

Digital Wallet Integration

Security

Multi Currency

Integration With Accounting System

Recurring Payments

POS Integration

E-Commerce Integration

POS Verification

Reporting Analytics

Vendor Capability Ratings

Ease of Implementation

Ease of Customization

Business Value Created

Usability and Intuitiveness

Availability and Quality of Training

Ease of IT Administration

Breadth of Features

Quality of Features

Product Strategy and Rate of Improvement

Vendor Support

Ease of Data Integration