Can I use Venmo for business?

Written by: Clint Proctor
• Updated •2 min read • Leer en español
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Young hair stylist in her salon, considering using Venmo for businessImage: Young hair stylist in her salon, considering using Venmo for business

In a Nutshell

If you own a business, accepting Venmo may offer your customers a convenient, touchless way to pay for your goods or services. And leveraging Venmo’s social features might help you spread the word about your business. But business owners should know that the Venmo app is only available in the U.S. and that your account may be subject to weekly transaction limits and fees.
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As a business owner, you may already use Venmo to send money back and forth to your friends and family. But did you know that by creating a Venmo business profile, you may be able to use the app to accept payment from customers?

Venmo is a digital wallet that was originally intended to provide a cashless way for people to split bills or send cash to friends and family. Until recently, you couldn’t use Venmo for business transactions, but Venmo has begun to loosen its restrictions around using its app for commerce. Now, many freelancers and small-business owners can also accept Venmo payments for their goods and services.

Venmo for business: what you need to know

Venmo launched a limited pilot of business profiles in July 2020. Then in February 2021, Venmo announced that 150,000 businesses were using the payment option — and it decided to expand access to all eligible sellers. Side hustlers and small-business owners alike can now accept Venmo payments in person, online or inside their mobile apps.

Deciding if Venmo is right for your business

Freelancers, side hustlers and small businesses without brick-and-mortar locations might find that using Venmo for business is an easy way to accept contactless payments from customers. But if you’re a store owner who already has a point-of-sale terminal capable of accepting touch-free payments from EMV chip cards or mobile wallets, adding Venmo to the mix may not be necessary.

About the author: Clint Proctor is a freelance writer and founder of WalletWiseGuy.com, where he writes about how students and millennials can win with money. When he’s away from his keyboard, he enjoys drinking coffee, traveling, obse… Read more.