A mobile-based social commerce network that allows users to send money through all forms of transactions. It assists with bookkeeping and collecting customer feedback. The ability to incorporate tailored incentives and a cashback experience increase customer loyalty. So here this article gives the Venmo pros and cons to better understand this topic.

Pros of Venmo:

1. It is easy to get started – set up an account and use it right away.
2. No fees.
3. Sending and receiving cash is effortless.
4. It isn’t affiliated with any one financial institution. It can be downloaded by anyone with a mobile phone.
5. There’s a social aspect to it. Users will see a stream of transactions from their friends and like or comment on them.
6. It’s possible to use it on certain websites, and it accepts PayPal.
7. If you need to send money, all you need is the recipient’s email address and phone number.

Cons of Venmo:

1. A transaction usually takes days to process.
2. The default privacy setting makes your payment history public.
3. If you need to withdraw money from your Venmo account, it will take one to three days for your request to be processed.
4. You can’t cancel a transaction. Thus, it will be no way to cancel a payment if you send it to the wrong recipient.
5. You pay a 3% fee if you use a credit card.
6. No international payments.
7. Can’t pay people via a website.

Thank you for reading this article. If you have any queries regarding our article on the pros and cons of Venmo then do comment in the comment section below.

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Divya Chauhan

Divya Chauhan is an expert writer with 10+ years of experience as a content writer. They specialize in making complex topics like IT, Health, and general topic easy to understand. Divya has written over thousands of articles to help people with their content. Prior to joining Way2benefits’s editorial team in 2020, Divya worked as a Professor of BCA college and freelancer blogger.

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