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10+ Venmo Alternatives and Competitors

Rating

8.8

Pricing

$0

Reviews

1570+ Reviews

Category

Payment Processing

Industry

SAAS

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Venmo is one of the most accessible mobile payment services for faster payment sharing. Established by Andrew Kortina and Iqram Magdon-Ismail in 2009, Venmo started as an idea of creating a transaction platform as the co-founders were in the process of helping a friend's start-up yogurt shop. When Venmo was finally established a year later, the company raised $1.2 million of seed money from RRE Ventures and then began working on maximizing their service of delivering fund transfer solution via a mobile phone app. Venmo was then acquired by Braintree for $26.2 million in 2012 and subsequently acquired by PayPal in 2013. Now as a subsidiary of PayPal, the platform has continuously added new innovative features, such as an instant transfer feature that enable users to deposit funds to their debit cards in 30 minutes. With Venmo's fast-growing reputation in the market today, the application competes for the most-preferred platform for payment processing along with other software like Stripe, Square Payments, Amazon Pay, and Google Pay.

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Top Alternatives for Venmo

  1. #1Stripe
  2. #2Square Payments
  3. #3Amazon Pay
  4. #4Google Pay
  5. #5Paypal
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No. Logo Name Website Rating Pricing Reviews
1 Stripe Visit Now 9.2 $0 2000+ Reviews
2 Square Payments Visit Now 9.2 Custom 1500+ Reviews
3 Amazon Pay Visit Now 9.2 $0.30 1200+ Reviews
4 Google Pay Visit Now 9 $0 1350+ Reviews
5 Paypal Visit Now 8.9 $0 1200+ Reviews
6 PaySimple Visit Now 8.9 $49.95 1000+ Reviews
7 CyberSource Payment Visit Now 8.8 $0.35 2000+ Reviews
8 2CheckOut Visit Now 8.8 $0.45 1500+ Reviews
9 Authorize.net Visit Now 8.8 $25.00 2500+ Reviews
10 Wepay Visit Now 8.5 $15.00 1000+ Reviews

Features

  • Make payments
  • Money transfers
  • Share payments
  • Request money

Q & A

Does Venmo work internationally?

Sadly, Venmo does not provide international access, for this application is US-based only. You cannot sign up for a Venmo account when outside of the United States; however, you can still monitor the application whether you are outside the US via linking US mobile numbers and US bank accounts.

Does Venmo accept payment without a card?

When transferring money from your Venmo account to your bank account, having a valid US bank account is a must. This process also works if you need to add a credit card or debit card to make a payment.

What's the difference between Venmo and PayPal?

While Venmo and PayPal are both e-wallets, there are differences between the two in terms of their use. PayPal is mainly used by businesses, especially for small to large operations. On the other hand, Venmo is commonly used as a handy digital wallet for small-time use or P2P (peer-to-peer) payment.

Is Venmo safe to use?

Like any other P2P software, Venmo prioritizes its user's vital information. Venmo assures that all of their user's info is protected with data encryption. This means that whenever instances occur wherein you lose your phone, you can log out of the app on the website to minimize the risk of fraud.

What are the main features I can enjoy with Venmo?

With Venmo, you can experience ease in every payment transaction you opt to deal with. It's highly possible thanks to the app's link access to bank and debit cards, money transfers, share payments, Facebook and contacts sync, POS, social currency, payment checkout, and so much more!

What's the transaction limit for Venmo?

Venmo sets a transaction limit of $299.99 upon signing up for the app. Upon confirming your identity, Venmo now allows grants you a person-to-person sending limit of $2,999.99.

Reviews

“ Safe Way to Send Money ”
4/5 (overall) - Phoebe T.
Pros:
  • It is so easy to make payments it’s insane. This little app can do anything from splitting checks to invoicing freelance jobs.
  • That it doesn’t make you do all sorts of crazy verification like Paypal you can easily transfer and receive money in the snap of a finger it is very quick which is what I really like about Venmo
Cons:
  • There isn’t much I don’t like about Venmo. The social side of it is okay and I don’t care much about that part since I like to keep my payments private.
  • it should probably partner with more companies like Paypal but other than that this app is absolutely fantastic which is why I’m with you all now
“ The Best Peer to Peer Money Transferring App! ”
4.2/5 (overall) - Daniel F.
Pros:
  • It has a great east to use format and design. I love that you can write down what you sent or received the money transfer for, it really helps keep everything organized.
  • I have had an overall fantastic experience with Venmo. I love how I can request people for money to pay me back and I hardly ever use cash because of how great Venmo is.
Cons:
  • It can be confusing to figure out at first. For example, when you are trying to find a friend to send money to I always get worried I am sending it to the wrong person.
  • The only thing that concerns me is the lack of confirmation before sending money. So, I don’t know what would happen if I accidentally sent money to the wrong account.

Venmo is a digital payment service that offers money transmission service across all types of purchase transactions. This platform is a subsidiary platform by PayPal that allows its users to easily send money to friends and contacts with just a tap. Primarily, Venmo is programmed to deliver a payment transaction that is highly easy to use, which also works on iOS, Android, and the web.

Moreover, Venmo is just like any other software, for it has its share of disadvantages. Upon using Venmo, you may encounter issues like lack of confirmation upon sending money, default privacy settings share your payment history and lacking communications regarding issues of Venmo purchase.  With this, make sure to time studying how Venmo works for you.

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