Venmo | Workflos AppStore

Venmo

4.6

8,900

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Venmo is a digital payment and wallet gateway that allows customers to transfer money and make payments via their mobile device. It enables users to make payments by linking their debit cards or bank accounts directly via the app, or by transferring the money stored within their account. Consumers can receive and send payments from contacts and friends by selecting a @username, contact's name, email or phone number. All transfers can be cashed out immediately to a bank account or stored as a Venmo balance for use at a later time. Businesses are able to generate exposure for the brand as users share their purchases on the Venmo feed and are also able to offer a new social currency to a mobile-first audience.

Website

https://venmo.com/business

Strengths

Convenient

Easy to use and widely accepted
Social

Allows for social interactions and sharing
Free

No fees for basic transactions

Weaknesses

Security

Some concerns over security and privacy
Limited

Limited to personal use and small transactions
No buyer protection

No protection for buyers in case of fraud or disputes

Opportunities

Potential for integration with other services and platforms
Opportunity to expand internationally
Opportunity to expand into business transactions

Threats

Competition from other payment services
Potential for increased regulation and compliance costs
Risk of fraud and scams on the platform

Ask anything of Venmo with Workflos AI Assistant

https://venmo.com/business

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Review Distribution

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Low - rated users

Customer had a negative experience with Venmo when trying to pay a tree trimming company with their credit card linked to the app. The app declined the payment and customer service was unhelpful in resolving the issue. None mentioned.App declined payment, unhelpful customer service.