Venmo

What Venmo does

Venmo is a consumer-facing peer-to-peer mobile payment platform owned by PayPal Holdings, Inc. (NASDAQ: PYPL), serving approximately 100 million active accounts in the United States, with a primary user base of Gen Z and Millennial consumers aged 18-40 who use the app to split bills, share expenses, and transfer money. The product was founded in 2009, acquired by Braintree in 2012 and by PayPal in 2013, and is now operated as a wholly-owned subsidiary from PayPal's San Jose headquarters. Beyond P2P transfers, Venmo has expanded into adjacent product lines including the Venmo Debit Card (issued by The Bancorp Bank via Mastercard), Venmo Credit Card (issued by Synchrony Bank via Visa), Venmo Teen Debit Card, college-branded debit cards, in-app cryptocurrency trading via PayPal Digital and Paxos Trust Company, and the PYUSD stablecoin.

The platform's core technology is a mobile-first (iOS/Android) social payment application with a public/friends transaction feed, QR-code-based in-person payments, business profile merchant tools, and direct deposit functionality. Technical differentiation rests on a social network layer (transaction feed and reactions) that drives virality, integration with PayPal's payment rails and the PayPal World interoperability platform for cross-border transfers across 90 markets, biometric identity verification partnerships (Verifone), and an ad-tech layer (PayPal Ads ID) using Venmo transaction data. Compliance is anchored in PayPal's money transmission licenses (NMLS ID: 910457), a New York State limited purpose trust company charter for crypto (NMLS ID: 2610315), and FDIC pass-through insurance through Program Banks on stored funds.

Venmo's business model is freemium on the consumer side — P2P transfers using Venmo balance, debit, or bank are free, while credit card funding incurs a 3% fee and instant transfers carry a transaction fee — and transaction-fee based on the merchant and product side, charging merchants 2.99% per transaction, earning interchange on Venmo-branded card spend, collecting spreads on crypto trades, and generating fees through new products including Venmo Stash cash-back rewards (up to 5% at select merchants), rent payments via Bilt, wedding registry payments via The Knot, and gift card gifting. Go-to-market is product-led, with distribution amplified by channel partnerships (Newegg, Hallmark, TikTok Shop, Sephora, Ulta, Taco Bell, Pizza Hut), PayPal parent leverage, college sports partnerships (Big Ten, Big 12), and cultural brand campaigns targeting younger demographics. In April 2026, PayPal reorganized into three reporting segments (PayPal, Venmo, Braintree) under incoming CEO Enrique Lores, with Venmo operating as a standalone segment and analyst break-up valuations near $5 billion amid reported acquisition interest from Stripe.

Name

Venmo

Legal name

Venmo is a service of PayPal, Inc.

Website

https://venmo.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

51–100 employees

Ownership category

akta.pro rank

Product category

Mobile Peer-to-Peer Payments

NAICS

Credit Card Issuing (522210)

SIC

Finance Services (6199), Personal Credit Institutions (6141)

akta.pro primary industry

Digital Payments & Money Movement (ACH/SEPA/FPS, Bill Pay, P2P) (FSAGAAAF)

akta.pro secondary industries

QR Code Payments Wallets (FSAMAEAC), Crypto Payments & Stablecoin Settlement Platforms (BPAMAFAL)

Keywords

• Peer-to-peer payments
• Mobile payment app
• Digital wallet
• Merchant payment processing
• Cryptocurrency trading

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Marketing or Sales, Personnel, Operations, Infrastructure

Revenue model

1. Merchant/Seller Transaction Fees: Venmo charges merchants 2.99% per transaction when customers pay using Venmo. This is the primary revenue stream from business customers.
2. Credit Card Interchange: Revenue generated from credit card transactions made with the Venmo Credit Card, earning interchange fees on each purchase
3. Instant Transfer Fees: Fee charged for instant bank transfers when users want immediate access to their Venmo balance rather than waiting for standard processing
4. Cryptocurrency Trading Spreads: Revenue from the spread between buy and sell prices when users trade cryptocurrency through the Venmo app

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels3 records

Core offering

Venmo operates a mobile-first social peer-to-peer payment application that allows individuals to send and receive money, split bills, and share payment experiences through a public social feed. It extends beyond P2P into Venmo Debit and Credit Cards with cashback rewards, in-app cryptocurrency trading, merchant Business Profiles with Purchase Protection, Venmo Stash rewards, direct deposit, QR-code in-store payments, digital gift cards, and international transfers via PayPal's network.

Product overview

Venmo is a social peer-to-peer payment platform owned by PayPal, serving as a unified app with multiple integrated modules. The core product enables P2P money transfers with social feed features, supplemented by the Venmo Debit Card and Venmo Credit Card for spending and earning cash back. The platform has expanded into cryptocurrency services (buy/sell/hold via PayPal Digital/Paxos), merchant payments (Business Profile with Purchase Protection), gift sending (digital gift cards and Hallmark integration), and rewards (Venmo Stash offering up to 5% cash back). Recent expansions include international money transfers via PayPal's global network (90 markets), rent payments through Bilt partnership, and wedding registry integration via The Knot. The product ecosystem positions Venmo as a comprehensive money movement platform evolving beyond traditional P2P payments.

Differentiator

Problem solved

Functional benefit

Brands

• Venmo Debit Card: Debit card allowing instant spending with Venmo balance, earning up to 5% cash back at select brands
• Venmo Credit Card
• Venmo Teen Debit Card
• Venmo Stash
• Venmo Business Profile
• PayPal World

Products and services

• Venmo P2P Payment App Core mobile peer-to-peer payment application for individual consumers enabling them to send and receive money, split bills, and share payment experiences with friends through a social feed with reactions and comments.
• Venmo Debit Card Mastercard-branded debit card issued by The Bancorp Bank that allows instant spending from a Venmo balance with up to 5% cash back at select brands, no monthly fee, and 24/7 fraud monitoring.
• Venmo Credit Card Visa-branded credit card issued by Synchrony Bank offering up to 3% cash back on eligible purchases with no annual fee, no limit on cash back earnings, and optional automatic purchase of cryptocurrency using cash back rewards.
• Venmo Teen Debit Card Debit card designed for teenage users with parental controls and spending monitoring capabilities, linked to a parent-managed Venmo account.
• Venmo Business Profile Business-oriented profile enabling merchants to accept Venmo payments online and in-store, with lower seller transaction fees, Purchase Protection coverage, profile customization, and Tap to Pay functionality.
• Venmo Cryptocurrency Services In-app cryptocurrency platform enabling users to buy, sell, hold, and transfer Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and PayPal USD (PYUSD) starting at $1, with services provided by PayPal Digital, Inc. (a New York limited purpose trust company) and custody by Paxos Trust Company.

Quantifiable outcome

• Transaction volume of approximately $270 billion annually
• +1 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• The Knot WorldwidecoreTechnology or IntegrationIntegration with The Knot's Wedding Registry allowing couples to receive gift payments through Venmo. Guests can contribute to wedding funds and gift registries using Venmo, bringing the social payment platform into the wedding gifting ecosystem.
• BiltcoreTechnology or IntegrationPartnership enabling Bilt members to pay rent and mortgage payments through Venmo. This partnership allows renters to earn rewards points on their largest monthly expense and use Venmo as the payment delivery mechanism.
• NeweggcoreTechnology or IntegrationVenmo added as a payment option at checkout for Newegg customers. This e-commerce partnership enables Venmo users to purchase electronics and tech products using their Venmo balance or linked payment methods.
• PerplexityminorGTM or Marketing PartnerPartnership for AI browser offering, integrating Venmo as a payment option within the Perplexity AI search experience for relevant commerce transactions.
• HallmarkcoreTechnology or IntegrationGreeting cards with Venmo payment integration, allowing Hallmark card buyers to include Venmo as a payment option for gifts and monetary gifting occasions.
• VerifonecoreTechnology or IntegrationPartnership for in-person payments identity verification and authentication, enabling secure Venmo transactions at Verifone-enabled point-of-sale terminals.
• PayPal WorldcoreTechnology or IntegrationInteroperability platform connecting Venmo with PayPal's broader payment ecosystem and merchant network, enabling cross-platform payments and transfers between Venmo and PayPal accounts.

Scale indicators3 records

Recent moves6 records

Expansion highlights8 records

Direct peers

• Zelle: Zelle is a bank-owned US P2P payments network integrated into the mobile apps of major US banks and credit unions. It competes head-to-head with Venmo for person-to-person transfers among US consumers, particularly for bank-funded transfers that avoid card fees.
• Cash App (Block): Block's Cash App is the closest direct competitor to Venmo, offering P2P payments, a debit card with cashback, in-app Bitcoin trading, and a social/social-feed experience targeted at the same Gen Z and Millennial US consumer base. Both monetize via interchange, instant transfer fees, and crypto spreads.

Broad incumbents

• PayPal: PayPal is Venmo's parent company and a broader digital wallet and online checkout platform serving both consumers and merchants globally. PayPal and Venmo increasingly overlap in merchant checkout, crypto, and consumer payments, making PayPal both a distribution partner and a partial substitute.
• Apple Pay: Apple Pay is a broad mobile wallet built into iOS with native in-store contactless payments, in-app/web checkout, and the Apple Card and Apple Cash products. It competes with Venmo in-store via QR/contactless and overlaps on P2P through Apple Cash, while benefiting from iOS default placement.
• Google Pay: Google Pay is a broad Android-native digital wallet offering contactless in-store payments, online checkout, and P2P transfers in the US and India. It overlaps with Venmo on P2P and in-store/online payments and competes for the same Android consumer base.
• Meta Pay: Meta Pay (formerly Facebook Pay) is Meta's cross-platform payments service supporting P2P, in-app, and checkout across Facebook, Instagram, WhatsApp, and Messenger. It competes with Venmo on social-context P2P and merchant checkout, leveraging Meta's social graph as a distribution channel.
• Samsung Wallet: Samsung Wallet (combining Samsung Pay and Samsung Pass) is a mobile wallet preinstalled on Galaxy devices supporting contactless payments, transit, digital IDs, and stored cards. It competes with Venmo in-store and on stored-value/mobile payment experiences, especially among Android users.

Emerging players

• Revolut: Revolut is a UK-headquartered consumer fintech offering multi-currency accounts, P2P, cards, and crypto. It is an emerging competitor as Venmo expands internationally via PayPal's global network, and overlaps on debit card cashback, crypto trading, and cross-border money movement.
• Wise: Wise (formerly TransferWise) is a UK-based cross-border money movement platform offering multi-currency accounts and low-cost international transfers. It is a relevant emerging peer as Venmo pushes into cross-border P2P via the 2026 PayPal global network integration across 90 markets.
• Robinhood: Robinhood is a US consumer fintech offering a debit card with cashback, in-app crypto trading, and a social/community experience that overlaps with Venmo's Gen Z audience. Both monetize interchange, crypto spreads, and cash management features for younger US consumers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/venmo
• Xx.com/venmo
• Facebookfacebook.com/venmo
• LinkedInlinkedin.com/company/venmo

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds3 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Venmo