5 SURPRISING WAYS

Venmo is a P2P app that enables users to send money to each other at no cost. One of its distinctive features is the ability to send emojis and GIFs when transferring money to someone.

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FinTech giant PayPal purchased Venmo’s parent company Braintree for $800 million in 2013 – and has been running it ever since.

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In 2021, the firm generated $850 million in annual revenue. But how does Venmo make money if it’s free?

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PAY WITH VENMO

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INSTANT TRANSFER

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Interchange & Withdrawal FeeS

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CASHBACK REFERRAL FEES

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Cryptocurrency Fees

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SWIPE UP TO READ THE FULL STORY

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5 SURPRISING WAYS

VENMO ACTUALLY MAKES MONEY

Venmo is a P2P app that enables users to send money to each other at no cost. One of its distinctive features is the ability to send emojis and GIFs when transferring money to someone.

FinTech giant PayPal purchased Venmo’s parent company Braintree for $800 million in 2013 – and has been running it ever since.

In 2021, the firm generated $850 million in annual revenue. But how does Venmo make money if it’s free?

READ MORE

PAY WITH VENMO

INSTANT TRANSFER

Instant Transfers enable users to send funds in as little as 30 minutes. Venmo imposes a fee of 1.75 percent (capped at $25) to speed up transfers.

Interchange & Withdrawal FeeS

Venmo-branded credit and debit cards are primarily monetized via interchange fees (paid by merchant) as well as ATM withdrawal fees ($2.50 for domestic withdrawals, for example).

CASHBACK REFERRAL FEES

Cryptocurrency Fees

Users can purchase and sell a variety of cryptocurrencies such as Bitcoin. Venmo monetizes its crypto product via transaction fees and spreads.

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