Venmo is a social payments service that millions of people use to make payments and transfer funds to friends, family and some companies. It is similar to PayPal, but different in that it allows users to make purchases and make payments through a social channel.
Venmo users can quickly transfer money using a friend’s phone number, email address or username. If the recipient does not have a Venmo account and the payment is sent using an email address or phone number, the recipient can create an Account to receive the funds.
One of the most popular uses of Venmo is to pay together with friends or family dinner, concert tickets or travel expenses.
Since Venmo applies PayPal, the same seller protection tools will be available for the service, so retailers can use It without fear. Although the PayPal Purchase Protection program does not apply to buyers in this case, Venmo offers its own, almost identical policy.