{"id":416,"date":"2023-04-17T17:39:48","date_gmt":"2023-04-17T17:39:48","guid":{"rendered":"https:\/\/www.smallbizgenius.net\/?p=416"},"modified":"2023-06-19T06:36:14","modified_gmt":"2023-06-19T06:36:14","slug":"can-you-use-venmo-for-business","status":"publish","type":"post","link":"https:\/\/www.smallbizgenius.net\/knowledge-base\/can-you-use-venmo-for-business\/","title":{"rendered":"Can You Use Venmo for Business? A Short SBG Guide"},"content":{"rendered":"\n
Cash is slowly disappearing from the US market<\/a>, and the way customers interact with merchants and complete transactions is changing. Adapting to the new reality can be quite a challenge for small businesses, especially when competing against well-funded large companies. <\/p>\n\n\n\n However, instruments such as Venmo for Business help small enterprises keep up with changes and consumer trends, giving them the chance to provide a better experience to their clients. So, can you use Venmo for your business? Yes – and you should! In this guide, we\u2019ll tell you more about this incredible tool. <\/p>\n\n\n\n Launched in 2009, Venmo is certainly not among the most recent startups around. However, the company has been restlessly developing since its launch and established itself as one of the most progressive payment getaways around, prompting PayPal to acquire it in 2013<\/a>.<\/p>\n\n\n\n What sets Venmo apart from other merchant services is that it retains its social aspect. The company, which was originally envisioned as a platform for musicians to sell songs or merchandise at their gigs, is today accepted by over 2 million merchants<\/a> in the US.<\/p>\n\n\n\n Venmo is an innovative merchant solution that employs peer-to-peer technologies for online financial transactions. More recently, the platform has started to allow users to hold a balance on their account, while also introducing business features such as invoicing options.<\/p>\n\n\n\n Today, over 83 million people<\/a> have downloaded the Venmo app and are using it for handling payments. Whether you have used the platform before or not, it is important to understand the difference between Venmo\u2019s personal and business accounts.<\/p>\n\n\n\n A Venmo personal profile gives people a simple and secure way to make payments to their friends and peers. Unlike other payment services, Venmo proposes a highly interactive, social network-like platform that allows users to send and receive transactions immediately, split a bill, or share necessities. <\/p>\n\n\n\n Venmo for Business is not so dissimilar to a Personal account, and if you have been using Venmo for a while, you will be instantly familiar with its interface. However, it also includes features purposely designed with the needs of businesses in mind, including:<\/p>\n\n\n\n Small business banking<\/a> can be tricky, so many people look for an easy-to-use, accessible, and intuitive solution. Here is where Venmo for Business can help. <\/p>\n\n\n\n To begin using Venmo for your small business, all you need to do is set up a business account. You can then start accepting Venmo business transactions – regardless of whether you are running a brick-and-mortar store or an eCommerce business<\/a>. <\/p>\n\n\n\n No matter what type of venture you are running, choosing the right merchant service is just as important as selecting a good checking account<\/a> for your business. Depending on your merchant service, you will build a different relationship with your customers and benefit from different features. <\/p>\n\n\n\n From providing low transaction fees to offering invoicing and supply purchasing, Venmo is considered by many to be the best option for most businesses. But is it the right one for you? Let\u2019s take a closer look.<\/p>\n\n\n\n Merchant services are extremely helpful for small businesses, but they come at a cost. With that in mind, business owners need to find the right compromise between cost and functionalities. <\/p>\n\n\n\n While Venmo for Business isn\u2019t free, the cost of this service is designed to fit any small business\u2019s budget:<\/p>\n\n\n\n So, how do businesses use Venmo? Once you are sure that the fees involved with a business Venmo account work for you, it is time to look at the ways in which you can use your account. These include:<\/p>\n\n\n\nWhat is Venmo? <\/h2>\n\n\n\n
Venmo Personal vs. Business Account: What\u2019s The Difference?<\/h2>\n\n\n\n
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Can You Use Venmo For Your Small Business?<\/h2>\n\n\n\n
Venmo for Small Businesses: What To Expect<\/h2>\n\n\n\n
Venmo Business Fees<\/h3>\n\n\n\n
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How Do I Use My Venmo Business Account?<\/h2>\n\n\n\n
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