Search This Blog

29 December 2022

Paypal Vs Venmo | Difference | Comparison

Paypal and Venmo are two popular digital wallets that are used to easily and securely transfer money between member accounts. As the parent company of Venmo, PayPal has long been the leader in digital payments. But what's the difference between the two services? And which is better for you?  Let us discuss some more Paypal Vs Venmo with the help of the comparison given below.

What is Venmo?

Venmo is a free payment service and app that connects to users' bank accounts and credit or debit cards and allows them to send and receive funds from contracts or friends. Paypal owns the app, which is currently only available to users in the united states. 

What is Paypal?

Paypal was one of the first payment services and digital wallets to dominate the cash app market in recent years. Users can use the payment service to link their bank accounts and credit or debit cards to their accounts and send and receive payments on mobile devices. Furthermore, PayPal is expanding its product and service offering to businesses and consumers.

Paypal Vs Venmo | Difference between Paypal and Venmo:

  • Platforms of PayPal are the web, smartphone, online shopping checkout, and in-store checkout. While platforms Venmo is mostly smartphone with limited web, online shopping, and in-store abilities. 
  • The payment method of Paypal is a bank account, debit card, credit card, or PayPal balance. While the payment method of Venmo is a bank account, debit card, credit card, or Venmo balance.
  • Paypal free from bank account 2.9% plus 30 cents if paid with a debit or credit card. while Venmo is free from a bank account or debit card, 3% if paid with a credit card.
  • Paypal is free for 3 to 5-day transfers, and 1.75% for instant transfers. Venmo is free for 1 to 3-day transfers, and 1.75% for instant transfers.
  • Paypal up to $60,000 including $10,000 in a single transaction. Venmo $6,999.99 for all transactions during the last 7 days.
  • Paypal can be used in more than 200 countries, with 25 currencies. Venmo is for US users only. 
  • Paypal transaction fees apply, including internal payment and currency conversion costs. In Venmo, fees apply when adding funds by credit card or check.
Thanks for reading the article. Still, if you have any questions or queries in your mind on the difference between Paypal and Venmo then please ask us in the comment section below.

Popular Posts