On desktop, this is what the homepage more or less looks like.Īt the very top, is a notification giving me the option of reminding my roommate about a requested payment. Venmo’s overall interface is super simple: ![]() So the question is, which one does it better? One of the reasons PayPal is so successful, is that it’s provided great services for years while keeping things easy for users.Īnd Venmo, the upstart, has become very successful for similar reasons. Let’s transition now to another major factor in the appeal of these platforms: Ease of Use To recap: the basic services are free, though dealing in credit cards (as opposed to debit cards) invoke higher percentages.Īlso, PayPal offers more services in other areas, including a greater ability to checkout in stores, but also has other fees accompanying those services. This may not sound great, but it’s pretty competitive compared to what other payment processors would charge.Īnd if you use software for building an e-commerce site, you can also expect similar rates.īut that’s the gist for PayPal and Venmo’s pricing. If so, here’s what PayPal’s merchant fees look like:įor most merchants, the 2.9% plus $0.30 is the most common fee. You can also use PayPal as a payment processor for YOUR store. Here’s another area where things get more complicated: Yes, that sounds high, especially compared to NOT having a fee at all, but remember that Venmo doesn’t even handle such international transfers. There are some special cases, but usually anyone sending money to a person in another country will incur a 5% transaction fee. When you send to other countries, the rates are even higher: If your payment is funded by a credit card OR debit card, or PayPal Credit, there’s a 2.9% fee as well as a fixed fee depending on the currency. has no charge, if it’s funded by PayPal Cash or a linked bank account. Like Venmo, the basics are free, but there is a 1% charge if you want to make an instant transfer. If you’re transferring money from PayPal to your linked bank account, there’s also no charge. So the fees for purchasing online or in-store in the U.S.? Online, offline, big and small-PayPal is everywhere, even when you don’t think it is. While it’s true that Venmo can be used for some online purchases, PayPal is MUCH more widely accepted in all sorts of stores. That’s because PayPal has a larger space in other services. With PayPal, things are more complicated. However, there is a 3% fee for sending money to people through the program. People using the Venmo Purchase Program get extra security for refunds for online purchases. Users who are using the Venmo Card, or Venmo Mastercard-which is part of Venmo’s step into other services-will be charged $2.50 for out-of-network ATM withdrawals and $3 for over-the-counter cash withdrawals at banks. But there are some other minor details for special users: ![]() If you need the money immediately, you can do an instant withdrawal, which costs 1% of the amount.Īdditionally, while sending money to people using your existing balance, debit card, or bank account IS free, using a credit card incurs a 3% charge.įor the most part, that’s it on pricing. That all sounds too good to be true, I know.Ī standard withdrawal is free, but takes a business day. Sending money from a linked bank account, debit card, or Venmo balance receiving money to your Venmo balance or withdrawing into your Venmo balance using the standard transfer to your bank account. But the service itself is free to install and use.Įven better, Venmo doesn’t charge fees for most of the basic services. Okay, obviously Venmo has to earn money somehow. It’s not that surprising, since PayPal owns Venmo.īut there are still some differences, and they relate to the different features offered by both. I’ll spoil things a little bit early on: the basic services for both Venmo and PayPal are similar. But even then, the question is, which one is better at it?Īnd aside from that, which one is better for you if you’re a freelancer? Running a small shop online? Or if you just want an easy digital wallet?įirst up, the thing we all care about: Venmo vs PayPal: Pricing Okay, yes, they both serve those same fundamental needs. ![]() In many ways PayPal is starting to resemble a bank. Yes, outwardly they seem very similar:īut in reality, PayPal is branching out into more and more different kinds of services. The short version is that PayPal is more complicated than Venmo. Except, PayPal has been around forever, and Venmo is new. To the uninitiated, it may not be clear who the winner is, in this battle of Venmo vs PayPal.Įven to those who ARE familiar with both, the differences may not be clear.Īfter all, PayPal and Venmo both let you send and receive money.
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