Venmo
peer-to-peer-payments · USVenmo is the most popular peer-to-peer payment app in the United States, owned by PayPal since 2013, with over 90 million users. The app combines instant money transfers between friends with a unique social feed that shows payment activity, though privacy settings allow users to keep transactions private. Venmo offers a Venmo Debit Card and Venmo Credit Card, supports bill splitting and payment requests, and provides Venmo for Business for small merchants accepting customer payments. Standard bank transfers are free and take 1-3 business days, while instant transfers to a bank account cost 1.75% (minimum $0.25, maximum $25). Sending money via credit card incurs a 3% fee, and business payments cost 1.9% + $0.10 per transaction. Venmo is available exclusively in the United States and cannot be used for international money transfers — funds are held in the Venmo balance or transferred directly to a linked bank account.
Quick Answer
Venmo is designed for personal businesses. Pricing starts at $1.75/mo. A free tier is available. Best suited for US-based businesses. 90M+ users make Venmo the most widely adopted P2P payment app in the US — almost everyone you know is already on it
Pricing
// verify pricing before launch — prices shown may not reflect current vendor rates
Key Features
- •Peer-to-peer payments with social feed showing payment activity (privacy settings available)
- •Venmo Debit Card (Mastercard) and Venmo Credit Card for everyday spending and purchases
- •Split bills, request money, and pay friends instantly from the Venmo balance or linked bank account
- •Venmo for Business — small merchants can accept customer payments with a 1.9% + $0.10 fee
- •Instant transfer to eligible bank accounts for a 1.75% fee (min $0.25, max $25)
- •Standard bank transfers free and completed in 1-3 business days
Pros
- +90M+ users make Venmo the most widely adopted P2P payment app in the US — almost everyone you know is already on it
- +Social payment feed adds a fun, social layer to payments that distinguishes it from all other payment apps
- +Venmo Debit Card and Credit Card extend functionality beyond P2P to everyday spending with cashback rewards
- +Bill splitting and payment requests make Venmo ideal for group dinners, rent, and shared expenses
- +Venmo for Business gives micro-merchants a low-friction way to accept customer payments
Cons
- −US only — completely unavailable for international transfers, unlike Wise, PayPal, or Remitly
- −Social feed is a privacy concern — payment activity is public by default and must be manually set to private
- −No buyer or seller protection for business payments compared to PayPal Goods and Services
- −No advanced financial features — no savings accounts, no investing, no budgeting tools
- −Funds sitting in Venmo balance are not FDIC insured unless transferred to the Venmo debit card's Spend account
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Reviewed by Finatune · Last updated 2026-07-12