PAYPAL VS VENMO TECHNOLOGY CODE
PAYPAL VS VENMO TECHNOLOGY PROFESSIONAL

If you have customers flowing onto your website to buy physical or digital items, it makes the most sense to use PayPal to accept their payment. Separating the accounts for their uses makes the most sense. This allows one to separate their personal and private life. This is especially important for business owners who wish to use PayPal for their business transactions and Venmo for their personal transactions. If you’re wondering if you can run a PayPal and Venmo account at the same time, you’ll be happy to know that the answer is yes. – Sending money to friends and family overseas The buyers protection gives a buyer some come-back if the seller does not provide the goods or service within a reasonable time frame. While Venmo is popular among the younger generation for fixing up debt to friends, in the larger scheme PayPal is still the most popular mainly due to the buyers protection they offer. Many people use this as a way to interact with others using the platform. Venmo is more of a social transacting platform as you can make transaction descriptions public if you wish to.

PAYPAL VS VENMO TECHNOLOGY CODE

Once you have the application on your phone, you can add payment contacts by linking your Facebook account, entering their name or username or directly scanning their Venmo QR code if they have their application up on their mobile device. For this reason, the Venmo developers have invested much more time into setting up a phone application that is smooth and simple for their users. Venmo unlike PayPal was designed for smaller transactions such as splitting a dinner bill among friends. Just like PayPal, once someone pays you from their Venmo account, the money will appear in your app/dashboard which you can then send to your bank account or allow to sit. If you choose to use your Venmo balance or your bank account to send money, you can expect to pay no fee while using your credit card will incur a 3% transaction fee. Similar to PayPal, Venmo allows you to link a bank account and credit cards as a means of payment. Limited to a Handful of US Based RetailersĬredit, Debit, Bank Transfer or PayPal FundsĬredit, Debit, Bank Transfer or Venmo FundsĪPI or PayPal Plugins Allow you to Set Up a Way to Collect PayPal Payments from Customers.īusiness must Already be using Braintree or PayPal Checkout.Ĭomparing PayPal and Venmo – Video Tutorial Secure although Public Transactions can Pose Some Risks

PAYPAL VS VENMO TECHNOLOGY PROFESSIONAL

With PayPal you can look at as the professional approach, whereas Venmo allows you to add personal touches to a transaction you send. While both PayPal and Venmo are digital wallets, the main difference is that PayPal is widely used by small and large scale businesses, whereas Venmo the majority of the time is used for transactions between friends. While there are some businesses that have jumped on board to accept Venmo, the majority of companies still prefer their sister company PayPal. Due to Venmo being a trendy way to make a payment to an acquaintance, friend or family member, there is no surprise that millennial’s are the largest group of users. Venmo in fact is even partly a social media feed, where a user can make a transaction public so that all Venmo users or just their contacts can see the transaction. This differs in the way that any merchant with a PayPal Business account can use PayPal’s API, or a plugin such as our very own Simple PayPal Shopping Cart to accept payments for goods or services online.

In fact, you cannot currently accept Venmo payments for goods or services unless you are already using Braintree or PayPal and have been approved.

The reason for this is that Venmo is mainly used by the everyday users rather than business owners. While the majority of online business owners have heard of or even used PayPal, many may have not yet heard of Venmo. What is the Main Difference Between PayPal and Venmo?

Venmo: “An online service that allows for an easy, safe and fun way to pay friends and family”. PayPal: “An eCommerce company that allows for payments between two parties through the online transferring of funds”. In this article, we will look at what the difference is between PayPal and Venmo and why certain people choose one platform over another. In fact, if you’ve noticed the similarity of these payment giants, you wouldn’t be surprised to learn that PayPal actually owns Venmo. They are both leading digital wallets and while they share common features, a number of factors set the two companies apart. PayPal and Venmo are both payment platforms that can be used to accept money from friends, family, employers or customers.

Paypal vs venmo technology