VENMO is not only an app, but it has become a verb. When someone wants to discuss a transfer or transaction of money among the younger generation, they usually say it to themselves.

“Just Venmo Me.” This shows the huge popularity of the application in the USA and among the younger generation.

The Peer-to-peer money transfer app purchased by PayPal is a huge giant in money transfer and transactions.

There are two sides to every product: the benefits and loopholes. Here we will look into some of the Pros and Cons of VENMO.


1) Low-cost Fee Structure

The fee structure is free of almost all transactions through a bank account or debit card. This is a delight for all of its users.

2) Social Media Like Interface

The key success of Venmo has been its social media like interface and news-feed that attracts the younger generation

Transaction info like Social News Feed with Emojis and Comments.

The transaction details, purchases, and money transfers appear on the social feed just like other social networks that, make Venmo quite attractive and interesting to use

3) Easier and Simple to Use

The old conventional transaction methods were quite complex, hectic, and time-consuming. In contrast to the usual banking processes, Venmo is easier and simpler for the user.

4) Avoids the shame of asking for Money

Venmo helps the user avoid the guilt of asking for money from someone he may know or asking to return the money. Venmo makes such communication quite smooth and friendly.

5) Products and Service Purchases

Venmo is an electronic wallet used to pay for any product or service.

Almost 200 merchants and businesses are linked with Venmo courtesy the PayPal.

6) Global Presence:

Being a subsidiary of PayPal, it has a presence in over 202 countries, which makes it the largest player in the electronics/mobile payment industry. It has expanded itself quickly in the emerging market and is setting its footprint all over the world.

7) Large Customer Base:

The customer base is huge which makes it a huge success. There are around 192 million users as per reports from 2016, with registered accounts of 15 million users.

Venmo is operated in 25 different types of currencies, making it easier and more friendly for transactions. This has increased its worldwide acceptance and made it trustable among customers.

8) Strong Backing:

Venmo, initially bought by Braintree and then acquired by PayPal, has strong backing. PayPal, the global financial payment system giant, provides strong backing to Venmo.


1) Delayed Transactions

The transfer interface and notifications to the users are smooth and quick, but the actual transfer of money takes a couple of days as per US banking requirements.

There is a slight delay between the actual transfer of money from one user to another.

2) Public Transactions

All the details of the transactions and purchases are public on the social news feed. This, on the one hand, is a unique feature but can be annoying to consumers.

Some users might not want to show their transaction or purchase details to other users. By default, the option of transaction privacy is set to public. But this can be turned off by the user

4) Hackers and Spammers

With ease of use, every digital technology has an increased risk. Similarly to the case of Venmo, there is a risk of fraudulent transactions and hacking of accounts. Spammers alert

5) Fake Bank accounts or Close Accounts

Due to the gap between the actual transactions, some spammers use this window to make fraudulent payments. They purchase products from businesses and send them money.

In actuality, there is no money in the account, or the account is closed. But meanwhile, the vendor is notified that the money has been transferred.

6) Stolen Phone or Safety

There are cases when you use Venmo on your phone, and your phone gets stolen or misplaced. There is a risk associated with someone using your Venmo account.

Transacting the money or can use your private information from the Venmo account. The thief can also take your account or credit card number from your Venmo app.