What Businesses Accept Venmo for Payment?
Gain clarity on Venmo's role in business transactions. Understand its widespread acceptance and how to confidently use it for purchases.
Venmo has emerged as a widely used digital payment platform, primarily known for its peer-to-peer money transfers. Its functionality has expanded significantly, allowing consumers to transact directly with businesses. This evolution positions Venmo as an increasingly relevant option for commercial payments, simplifying transactions for both customers and merchants. This widespread adoption reflects a broader shift towards digital and contactless payment solutions.
Locations Where Venmo Payments Are Accepted
Businesses are increasingly accepting Venmo across diverse settings, from online stores to physical retail locations. Many online retailers and applications, particularly those integrated with PayPal, offer Venmo as a payment option during checkout. Customers can select Venmo to complete purchases within mobile apps for services like DoorDash, Lyft, Starbucks, Uber Eats, and Hulu. Online apparel and home goods retailers such as Abercrombie & Fitch, Hollister, Lululemon, and Foot Locker also facilitate Venmo payments.
In physical stores, Venmo is often accepted through Quick Response (QR) codes displayed at the point of sale. Major retailers like CVS, Walgreens, and some grocery chains, including Giant Eagle, allow customers to scan a QR code using their Venmo app to finalize a transaction. Additionally, the Venmo debit and credit cards, which operate on the Mastercard and Visa networks, provide another avenue for payment at any establishment that accepts these card types.
Methods Businesses Use to Accept Venmo
Businesses employ several methods to integrate Venmo into their payment processing systems. A common approach involves creating a Venmo Business Profile, which allows merchants to accept direct payments and generate QR codes for in-person transactions. This profile can be set up from an existing personal Venmo account, enabling separate tracking of business and personal finances. These profiles incur a transaction fee, typically 1.9% plus $0.10 per payment received for direct Venmo transactions over $1.00.
Another significant method is integration through PayPal. Businesses already using PayPal’s online checkout can often automatically offer Venmo as a payment choice without additional setup. Payments processed this way, or through a business’s app or website, may have a fee around 3.49% plus $0.49 per transaction.
Businesses also integrate Venmo through third-party point-of-sale (POS) systems. Funds received can be transferred to a linked bank account, with standard transfers typically taking one to three business days at no cost. Instant transfers incur a fee of about 1.75% of the amount, with a minimum of $0.25 and a maximum of $25. Businesses receiving over $600 in payments annually through Venmo will receive a Form 1099-K for tax reporting purposes.
Discovering Businesses That Accept Venmo
Finding businesses that accept Venmo involves utilizing features within the Venmo application and observing payment options at checkout. The Venmo app includes a “Pay Businesses” or “Explore” section, which can help users discover merchants in their vicinity or specific categories. This feature often highlights businesses that have established Venmo Business Profiles. When shopping online, consumers should look for the Venmo logo or the option to “Pay with Venmo” during the checkout process.
In physical retail environments, businesses often display Venmo or PayPal logos near the cash register or on their storefronts, indicating acceptance. Many merchants also provide a QR code at the counter for easy scanning and payment. If uncertain, a direct inquiry to the business whether they accept Venmo is a straightforward way to confirm.