![]() Let’s compare PayPal versus Venmo! Venmo vs. Venmo and PayPal are part of the same company and have many similar things, such as they are free to use and have the same format. So, as we are clear about both the services, let’s move ahead and see the difference between Venmo and PayPal. As per the latest stats, PayPal has a user base of 426 million and generated annual revenue of $25.3 billion in 2021. Unlike Venmo, PayPal offers its services in over 200 countries. Though it was not popular initially, after merging with some other fintech companies, it became a prime name in the finance sector. PayPal is a fintech firm that started back in 1990. The service area of Venmo is limited to the USA. The service charges a nominal fee for instant transfers to cards, but the bank transfers are free. Users can easily link their bank accounts, debit cards, and credit cards with the app to make payments to their friends and family. The peer-to-peer app makes it super easy for users to handle small payments. ![]() It was offered to the public as an app in 2012, and after one year, it was acquired by finance giant PayPal. Venmo is a free-to-use payment service that is primarily used for making small funds transfers. To understand the difference between Venmo and PayPal, we need to know what these platforms are. So, is Venmo better than PayPal? Which one to choose? What is the cost involved?Īll questions will be answered in our article below! What Is Venmo? PayPal and Venmo are two of the best apps for carrying out national as well as international payments. If you’re perplexed about the same, we can help you shortlist the best one. Due to a number of choices for payment apps, it can be tough to decide which one to use. When it comes to methods, there are many apps that can be used to make payments locally and abroad. The advent and rise in the Fintech market have made it super convenient for all of us to make payments with a tap on the screen. bank accounts, depending upon your location and type of entity you’re paying can only use debit cards and U.S.Sending someone money was not as easy as it’s today. Works with debit cards, credit cards, and U.S. No fees to send or receive money, when person-to-person Get instant discounts when you use your Cash Card to shop at selected merchantsġ to 5 business days instant transfers are available No fee to send or receive payments using a linked bank account or debit card 1.5% transaction fee applies to instant transfers Must use a bank-issued debit card or PayPal account no credit cardsġ to 3 days instant transfers are an option. Widely accepted by, and works with, many online vendors and merchants Standard bank account transfers are free instant transfer fee is 1% or $10 maximum 2.9% fee plus a per-transaction surcharge for payments made by debit, credit card, and PayPal credit ![]() checking or money-market account or debit card required no credit cardsġ to 4 days instant transfer to bank account or debit card is available No fees to receive payments or pay a request $0.95 fee to send or request funds Many banks and credit unions feature Zelle as a preferred person-to-person money transfer serviceġ to 3 days for standard transfers no instant transfer option No fees to send or receive money via bank account or debit card Venmo offers its own Mastercard debit card for easy access to your Venmo balanceġ to 3 days for standard transfers instant transfers can be completed in minutes 1 to 3 days standard 30 minutes or less for instant transfersįree to send and receive money via bank account or debit card 3% fee applies to credit card payments
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