Venmo

Venmo for Business

Composite Score

8.1 /10

CX Score

8.4 /10

35 Reviews Write a Review

Claim Software

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

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3 Top Rated Capabilities

6 Top Rated Features

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

1
Since last award

98 Plan to Renew

88 Satisfaction of Cost Relative to Value

1
Since last award

Product Experience

Negotiation and Contract

Conflict Resolution

Strategy & Innovation

Service Experience

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Emotional Footprint Overview

Product Experience:: 95%
Negotiation and Contract:: 90%
Conflict Resolution:: 93%
Strategy & Innovation:: 90%
Service Experience:: 96%

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.

+92 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

4% Neutral

96% Positive

Pros

Efficient Service
Performance Enhancing
Trustworthy
Effective Service

Feature Ratings

Average 85

Mobile Payments

Credit Card Processing

Digital Wallet Integration

Recurring Payments

Security

Multi Currency

POS Integration

Integration With Accounting System

E-Commerce Integration

POS Verification

Reporting Analytics

Vendor Capability Ratings

Average 82

Ease of Implementation

Ease of Customization

Business Value Created

Availability and Quality of Training

Usability and Intuitiveness

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

Varun I.

Role: Consultant
Industry: Food and Beverage
Involvement: End User of Application

Validated Review

Verified Reviewer

Submitted Aug 2021

Essential tool for any small business.

Likeliness to Recommend

8 /10

What differentiates Venmo for Business from other similar products?

The biggest plus point was the low cost and the ease of signing up. The biggest worry is losing a significant chunk of your income to transaction and service fees and venmo makes that less of a worry.

What is your favorite aspect of this product?

The fact that it creates a hassle free experience for the customers and the clients. It speeds up transaction times especially when there are plenty of people waiting to make a payment and a few seconds saved per person goes a long way.

What do you dislike most about this product?

Nothing to dislike really. The world has moved towards digital payments and a cashless economy. Venmo are frontrunners in that change.

What recommendations would you give to someone considering this product?

Id say dont think about it too much, take the leap and find out for yourself!

Pros

Efficient Service
Effective Service
Saves Time
Helps Innovate

Jared S.

Role: Sales Marketing
Industry: Recreation
Involvement: End User of Application

Validated Review

Verified Reviewer

Submitted Aug 2021

Venmo for Business is easy to use and more trusted

Likeliness to Recommend

5 /10

What differentiates Venmo for Business from other similar products?

Venmo for Business is more trusted than Paypal nowadays and other payment processing platforms. Friends, family and clients transact through the application everyday so it's more widely used. It differentiates due to trustability, wide scale dominance via it's plug-in to Facebook and other social networking platforms and it's a fairly standard transactional fee. It's not a large cost to run. Actually, it has no cost to operate besides daily transactional fees to clients. Venmo also is more efficient at providing quicker money into your bank account through it's high speed payment processing system. Venmo for business overall looks better too.

What is your favorite aspect of this product?

My favorite aspect of this product is it's an extension of Venmo personal. My clients already trust the system.

What do you dislike most about this product?

I dislike the transactional fees, but most payment processors have these no matter what.

What recommendations would you give to someone considering this product?

Make sure you understand what you want to use Venmo for Business for. If it's for recurring transactions, I'm not sure it's doable. There are better options such as like Stripe for that, but for single transactions, Venmo for Business is a great tool.

Pros

Reliable
Efficient Service
Effective Service
Respectful

Cons

Inhibits Innovation
Slower Product Innovation
Commodity Features

Yair D.

Role: Student Academic
Industry: Education
Involvement: Initial Implementation

Validated Review

Verified Reviewer

Submitted Jul 2021

Easy to use, a bit pricey though.

Likeliness to Recommend

5 /10

What differentiates Venmo for Business from other similar products?

Venmo is easier to use than other similar products.

What is your favorite aspect of this product?

I like the effectiveness and efficiency of this product.

What do you dislike most about this product?

Not much.

What recommendations would you give to someone considering this product?

To consider Venmo for its easy use.

Pros

Helps Innovate
Continually Improving Product
Efficient Service
Reliable

Cons

Less Inspiring
Leverages Incumbent Status

Venmo for Business

What is Venmo for Business?

Company Details

Need Assistance?

Awards & Recognition

Venmo for Business Ratings

87 Likeliness to Recommend

1 Since last award

98 Plan to Renew

88 Satisfaction of Cost Relative to Value

1 Since last award

Emotional Footprint Overview

Emotional Footprint Overview

+92 Net Emotional Footprint

How much do users love Venmo for Business?

Chart

Pros

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

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

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

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

Recurring Payments The ability to schedule payments at a cadence

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

Multi Currency Allows users to process payments in multiple currencies

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

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

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.

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.

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.

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

Varun I.

Essential tool for any small business.

Likeliness to Recommend

Pros

Jared S.

Venmo for Business is easy to use and more trusted

Likeliness to Recommend

Pros

Cons

Yair D.

Easy to use, a bit pricey though.

Likeliness to Recommend

Pros

Cons

Most Popular Venmo for Business Comparisons

Amazon Pay

Stripe Payments

Square Payments

BlueSnap

GoCardless

Paypal Braintree

1
Since last award

1
Since last award

Feature Ratings

Mobile Payments

Credit Card Processing

Digital Wallet Integration

Recurring Payments

Security

Multi Currency

POS Integration

Integration With Accounting System

E-Commerce Integration

POS Verification

Reporting Analytics

Vendor Capability Ratings

Ease of Implementation

Ease of Customization

Business Value Created

Availability and Quality of Training

Usability and Intuitiveness

Ease of IT Administration

Breadth of Features

Quality of Features

Product Strategy and Rate of Improvement

Vendor Support

Ease of Data Integration