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Venmo for Business

Score9.4 out of 10

14 Reviews and Ratings

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What is Venmo for Business?

Venmo for Business supports touch-free transactions and provides customers a secure and simple way of paying. Businesses can accept payments virtually through the app, and in-person with a unique business QR code. Business's can turn the QR code into an eye-catching point-of-sale with a free QR Kit, in order to give customers an easy, touch-free checkout. There is no set-up fee and no monthly fees, with transaction fees of 1.9% + $0.10.

Categories & Use Cases

Key Features

Learn about the best (and worst!) features Venmo for Business has to offer, as determined by TrustRadius' reviewers.
Based on 14 ratings of Venmo for Business's features
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Top Performing Features

  • Fraud Detection

    Ability to detect fraudulent transactions while allowing legitimate transactions

    Category average: 7.1

  • API or SDK

    Tools to interact with payment gateway code

    Category average: 7.8

  • Recurring Payment Support

    Ability to support subscriptions and recurring payments

    Category average: 7.4

Areas for Improvement

  • Billing and Invoicing Support

    Billing a client for work done

    Category average: 7.3

  • Global Support

    Supports many currencies and languages

    Category average: 7.4

  • Payment Form Acceptance

    Ability to accept many different forms of payment

    Category average: 7.2

Reviews

What users are saying about Venmo for Business.
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Venmo for Business is EFFECTIVE!

Incentivized
Verified User
Manager in Sales (201-500 employees employees)

Use Cases and Deployment Scope

Outstanding monies due can always be paid out via Venmo. I haven’t had any issues using it and it is very simple to use, very user-friendly.

There is confirmations made on both ends so that each person involved can track the transaction from start to finish at any point in time.

Pros

  • Timely payout
  • Ease of use
  • Visibility at all times

Cons

  • Send out alerts whenever maintenance may get done on the tool.
  • Create a weekly update message alert

Return on Investment

  • Positive impact only as it’s enhanced our effectiveness.
  • No negative impact.
  • Simple, easy to use and well worth the $ investment.

Usability

Alternatives Considered

ADP Comprehensive Services

Other Software Used

PayPal Payments Pro, ADP Comprehensive Services

Venmo for Business- PayPal's little brother is growing up.

CharRon E. SmithView profile
Owner in Professional Services at A Serious Production (1-10 employees employees)

Use Cases and Deployment Scope

I use Venmo for Business as a secondary payment method. Some clients are concerned with using their credit or debit cards for purchases so they rely on PayPal or Venmo. This is fine with me. I just have another money account to be aware of. Plus, it is link[ed] to my QuickBooks software for tracking.

Pros

  • QR codes for quick payment
  • A secure account for customers
  • Venmo integrates with QuickBooks

Cons

  • Take out transaction fee. They are not PayPal
  • More understanding with bitcoin
  • Invoicing would be a good feature

Most Important Features

  • QR code marketing kit
  • Company own debit card
  • Bitcoin investment

Return on Investment

  • Give customers reassurance
  • Secure money account
  • More marketing strategies

Alternatives Considered

PayPal Payments Pro

Other Software Used

PayPal Payments Pro, QuickBooks Desktop Enterprise, Mailchimp