Given the social aspect of the app, it can be argued that marketing your business on Venmo is much easier than on PayPal. All transactions come with 24/7 monitoring and are fully encrypted for your security. With a client list including Poshmark, Abercrombie & Fitch, and UberEats, Venmo also offers the ability to integrate a "Pay with Venmo" option within your e-commerce platform. By registering a dedicated business profile (separate from your personal profile), customers can pay for goods and services through a digital storefront page or by scanning your business' unique QR code. Venmo currently gives merchants the ability to accept payments in the app, online, or in person. Still, here's what you need to know about the two as a business owner. As mentioned before, PayPal has built a robust and intuitive commerce platform throughout the years, while Venmo has just started to expand from its P2P ways. The biggest separation between PayPal and Venmo comes in business use-cases. PayPal follows a more traditional and fool-proof approach to sending and receiving money, whereas Venmo's social component makes for a more engaging and convenient choice.
You can't go wrong with either service for personal use. All of that must be done through the mobile app. Venmo's website lets you sign in to view and edit your profile, but you can't make any transactions. Built for businesses, PayPal's website provides a more flexible and detailed outlook on your sales and transactions, and most importantly, allows you to send and receive money on the platform. The main difference, however, is on the web. That means you can conveniently make transactions, transfer money, and trade cryptocurrency right from your mobile device.
#Paypal vs venmo android#
PayPal Zettle card reader integration, Seller Protection Program, chargeback supportĭedicated business profile, accept in-store payments, 24-hour monitoringįrom a platform standpoint, PayPal and Venmo are free to use through iOS and Android apps, with near five-star ratings for both. Up to $299.99 per single transaction, $6.999.99 per week for verified usersĢ to 3 business days, or a 1.5% fee for instant transfers (up to $15 of the total amount)ġ to 3 business days, or a 1.5% fee for instant transfers (up to $15 of the total amount) Up to $10,000 per single transaction, $60,000 per week At a glanceĢ.99% + $0.30 with credit and debit card paymentsġ.9% + $0.10 with credit and debit card payments Read on for a breakdown of their features, fees, transfer policies, and more. While PayPal is the parent company of Venmo, there are some notable differences between the two that you should be aware of before deciding on one.
Whether you're covering a friend's coffee or starting an e-commerce storefront, PayPal and Venmo are the preliminary choices for transactional services. But with the ever-increasing demand in the commerce, cryptocurrency, and fintech spaces, the utility of peer-to-peer (P2P) services like Venmo has expanded into the realm of small businesses, making for a worthy alternative to the old reliable. Created in 1998 as a means for users to transfer money between family, friends, and customers, PayPal has since amassed over 426 million active accounts. When it comes to paying and receiving digital currency, PayPal has long been the industry leader. If you see inaccuracies in our content, please report the mistake via this form. If we have made an error or published misleading information, we will correct or clarify the article. Our editors thoroughly review and fact-check every article to ensure that our content meets the highest standards. Our goal is to deliver the most accurate information and the most knowledgeable advice possible in order to help you make smarter buying decisions on tech gear and a wide array of products and services. ZDNET's editorial team writes on behalf of you, our reader. Indeed, we follow strict guidelines that ensure our editorial content is never influenced by advertisers. Neither ZDNET nor the author are compensated for these independent reviews. This helps support our work, but does not affect what we cover or how, and it does not affect the price you pay. When you click through from our site to a retailer and buy a product or service, we may earn affiliate commissions. And we pore over customer reviews to find out what matters to real people who already own and use the products and services we’re assessing. We gather data from the best available sources, including vendor and retailer listings as well as other relevant and independent reviews sites. ZDNET's recommendations are based on many hours of testing, research, and comparison shopping.
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