For recurring payment concerns, here’s our Venmo recurring payments guide.
What Is Venmo?
However, while Venmo seems limited at first glance, it does have more robust features that distinguish it from other alternatives. For example, you can avail of a Credit Card with Venmo that offers up to 3% cashback. Hence, you don’t have to apply for a credit card with a bank as you would traditionally. In addition, the card even has a custom QR code that’s designed to make sending and receiving payments much easier. Venmo has also diversified itself by providing the ability to purchase cryptocurrency with the app. Where can I use Venmo? Like other digital wallets, you can use Venmo to shop or pay for services in partner physical stores. You may also use it for digital purchases if the merchant has it as an available payment option. Overall, it’s great for both average citizens and businesses who want instant transactions and the seamlessness of cashless payments.
With this feature, you no longer need to refill multiple online wallets or bank accounts just to make online purchases. You can use Venmo for everything — and you don’t even need a positive balance on your account. That’s because if you don’t have enough within Venmo, the app will automatically use your linked bank account for payments.
Remember that you can only arrange for Venmo to be your default payment method when you check out an item. It’s also the best place to set Venmo as your default payment method if you want to use it moving forward. Of course, this method did come with its pitfalls. For instance, you had to have a Venmo card first before you could execute it. You would have had to avail of it in the app by tapping the hamburger icon and choosing “Venmo Card.” Afterward, you’d need to select “Get the Venmo Card” and request one first. Venmo will then let you personalize your card and add your details. Furthermore, it will ask for some verification information to complete the process.
It’s also convenient as you don’t need to switch between various payment services and cards just to make payments. You can have all of your finances channeled through one app. This includes payments regarding online shopping, physical shopping, or peer-to-peer transactions. In addition, linking Venmo means your account will be debited automatically when you make payments. Hence, it’s not helpful if you prefer staggering your payments in installments like you would with credit cards.
Credit/Debit Cards
Apple Pay
PayPal Card
