![]() There was even a time when Venmo showed you the precise amounts they were paying for rent, food, and more, but naturally that TMI feature was retired. Transfers are free, payments to friends and family are free, and the app even has a built-in “newsfeed” showing who among your friends is paying whom for what. PayPal handled a total of $330 billion in transactions in 2021, while Venmo handled $230 billion - up a staggering 44% from the previous year.Īnd there’s a reason why so many people use Venmo as their go-to payment app: it’s simple, safe, and reliable. Venmo is so widespread these days that “Do you have Venmo?” has become the new “Cash is king.”Įven though Venmo is technically a subsidiary of PayPal, the numbers show that the former is now nearly as popular as its big brother. Fees for business use: 9% merchant fee plus 10 cents per transaction Venmo tax applies to all transactions marked “goods and services”.Fees for personal use: 3% credit card processing fee.Apple Pay: Best for sending, receiving, and paying at the register for iPhones and Apple Watches. ![]() Cash App: Best for converting received payments into hard cash.Zelle: Best for sending money to people who don’t use payment apps.ProPay: Best for receiving offline payments as a freelancer/small business owner. ![]()
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