Because it is easily integrated online, Venmo is a great option for online retailers. Using Venmo means opening a new way to drive sales. It provides a familiar, easy-to-use payment method that younger customers will understand and use.
The biggest draw for both customers and businesses is how quickly a user can transfer money to their bank. The business version provides instant transfer, so it allows businesses to receive money or issue payments on the same day.
Connecting with customers
Venmo’s comment and like features give businesses the opportunity to interact with customers on another level. This allows a business to break down barriers, encourage customers to reach out with questions and interact with the business through a social media-style platform.
Venmo is a subsidiary of PayPal, so it has some backing from a major company when it comes to security. Browne said that while some users have been wary of linking their bank account to an app, most millennial users have no problem using it.