Venmo Now Accepted at Over 2 Million Retailers
Starting this week, Venmo will be accepted at over two million retailers in the United States—“almost everywhere PayPal is accepted.” Venmo is essentially a peer-to-peer payment platform that doubles as a social network, allowing users to share financial milestones with one another or split payments among friends.
PayPal acquired Venmo during its Braintree acquisition in 2014. The company is now utilizing Braintree’s merchant list to expand Venmo’s payment services. PayPal started testing this option early last year, but it was only available for a small number of merchants.
Using Venmo to pay for a purchase online is fairly straightforward. You must be on your phone when making the purchase, and have a Venmo account. During checkout, select PayPal as the payment method. A new screen will come up asking you to choose between PayPal and Venmo. The subsequent order process is similar.
Users can share their retail purchases with other friends on Venmo or request payments from peers if they are splitting the cost of the transaction. For instance, if three friends want to buy a birthday gift for another friend, they can split the price using Venmo at checkout.
Last month, Venmo started sending physical debit cards to select users as part of a beta test. Account holders can buy their favorite products in stores while still using Venmo to fund the transaction. At this time, PayPal has not announced when the physical card will be available to all users.