PayPal Announces Over 2M U.S. Retailers Will Begin Accepting Venmo Payments Online

Tuesday October 17, 2017 5:10 AM PDT by Mitchel Broussard

PayPal today announced that "more than two million" retailers in the United States will now accept online payments from the PayPal-owned, peer-to-peer payments platform Venmo. Users with Venmo accounts will be able to pay on retailer apps like Forever 21, Foot Locker, and Lululemon starting this week (via Reuters).

With the addition of Venmo into the checkout process of these apps, Venmo customers can use their app balance, linked cards, or bank account to shop on the mobile sites of "almost all merchants that accept payments with PayPal." The peer-to-peer payments app will appear as a checkout option similar to PayPal and other mobile wallets.

“At Venmo from the very early days our vision was to always let you use it for whatever you want to buy,” Ben Mills, head of product, at Venmo, said in an interview.

Venmo will charge merchants fees for processing payments through its platform, with Venmo head of product Ben Mills stating that the service's ease of use "could help increase" the company's sales.

Another update coming down the line -- first announced over the summer -- will let users transfer their app's balance to their bank account instantly, for a transfer fee of $0.25. Currently, Venmo transfers to bank accounts are free, but take up to a day to complete.

PayPal is said to be looking to bolster Venmo's stance in the peer-to-peer payments market following the launch of Zelle earlier in 2017, and the impending debut of Apple Pay Cash. However, PayPal CEO Dan Schulman has said he doesn't think Apple Pay Cash will hurt Venmo, mainly citing Venmo's availability across platforms as its leg up on Apple's iOS-only P2P payments.

Tags: PayPal, Venmo

Top Rated Comments

(View all)
Avatar
32 months ago
2 million locations, not 2 million different retailers. So if Walmart starts accepting it, that's 5,000 "retailer". If McDonalds does, that's another 14,000.

ApplePay is currently accepted at more than 4 million locations and more than 1,500 banks are part of the program.
Score: 3 Votes (Like | Disagree)
Avatar
32 months ago
More options is probably better - although this just seems unnecessarily complicated by Paypal - Paypal already offers payments to retailers.

If Zelle is used by a big enough group of the smartphone population in the U.S., it'd become a serious threat to Venmo - however Venmo may have already won the marketshare race - making it very hard if not impossible for Zelle to overcome.

Frankly, the U.S. government is mandated to provide currency for citizen transactions and should provide an electronic form without transaction fees that provides transaction privacy like cash does - the financial industry would not want this to happen, but this is what should really happen, IMHO.
Score: 2 Votes (Like | Disagree)
Avatar
32 months ago
Why are they still focussing on centralized payments? I would expect them to be investing in decentralised blockchain payment systems! Those are the future. Some products on mobile are coming out so looking forward to see what will happen with paypal/visa/pay...
Score: 1 Votes (Like | Disagree)
Avatar
32 months ago
Would need to see an impartial as possible review before I would use PayPal again. It was a long time ago but I had a bad experience that took forever to resolve.
Score: 1 Votes (Like | Disagree)
Avatar
32 months ago
Soon to be followed by...

PayPal Announces Over 2M U.S. Retailers Flooded with Chargeback Fraud Cases
Score: 1 Votes (Like | Disagree)
Avatar
32 months ago
All those times people tried to send me money and would ask me if I had Venmo to which I would reply, “No, I only have/use paypal.”
Score: 1 Votes (Like | Disagree)

Top Stories

Apple Acquires Weather App Dark Sky

Tuesday March 31, 2020 10:22 am PDT by Juli Clover
Apple has acquired weather app Dark Sky, Dark Sky's developers announced today. Dark Sky is one of the most popular weather apps on the App Store, known for its accuracy and storm warnings. Our goal has always been to provide the world with the best weather information possible, to help as many people as we can stay dry and safe, and to do so in a way that respects your privacy. There is no ...

Apple's 2020 MacBook Air vs. 2020 iPad Pro

Wednesday April 1, 2020 2:45 pm PDT by Juli Clover
Apple in March updated both the MacBook Air and the iPad Pro, and with the iPad Pro increasingly positioned as a computer replacement, we thought we'd compare both new machines to see how they measure up and which one might be a better buy depending on user needs. Subscribe to the MacRumors YouTube channel for more videos. We're comparing the base model 12.9-inch iPad Pro and the base model...

Zoom Accused of Misleading Users With 'End-to-End Encryption' Claims Amid Other Security Issues [Updated]

Wednesday April 1, 2020 2:47 am PDT by Tim Hardwick
Zoom is facing fresh scrutiny today following a report that the videoconferencing app's encryption claims are misleading. Zoom states on its website and in its security white paper that the app supports end-to-end encryption, a term that refers to a way of protecting user content so that the company has no access to it whatsoever. However, an investigation by The Intercept reveals that...

Case for Upcoming Low-Cost iPhone Shows Up at Best Buy With Alleged April 5 Stock Date

Monday March 30, 2020 4:25 pm PDT by Juli Clover
Apple has a new low-cost iPhone in the works, which is supposed to be launching sometime in the first half of 2020. Given the ongoing situation in the United States and other countries, it's been unclear if the device is going to launch within the planned timeline, but there are signs that it could be coming soon. We started seeing cases for the new low-cost iPhone back in early February,...

Apple Adding Some 2013 and 2014 MacBook Air and MacBook Pro Models to Vintage Products List at End of April

Wednesday April 1, 2020 2:24 pm PDT by Joe Rossignol
In an internal memo obtained by MacRumors, Apple has indicated that the following 2013 and 2014 models of the MacBook Air and MacBook Pro will be added to its vintage and obsolete products list on April 30:MacBook Air (11-inch, Mid 2013) MacBook Air (13-inch, Mid 2013) MacBook Air (11-inch, Early 2014) MacBook Air (13-inch, Early 2014) MacBook Pro (13-inch, Mid 2014)Apple defines vintage...

AirTags Referenced in New Apple Support Video

Thursday April 2, 2020 12:12 pm PDT by Joe Rossignol
Apple has accidentally referenced its widely rumored AirTags item tracking tags in a video that it uploaded to its Apple Support channel on YouTube today. The video was first spotted by the blog Appleosophy and has quickly been removed. The video was titled "How to erase your iPhone." AirTags were mentioned in Settings > Apple ID > Find My > Find My iPhone under Enable Offline Finding, with...

Testing Brydge's New Pro+ Keyboard With Trackpad for iPad Pro

Monday March 30, 2020 2:04 pm PDT by Juli Clover
Well ahead of when Apple introduced trackpad support in iOS 13.4, Brydge announced an iPad Pro keyboard with a built-in multi-touch trackpad. We have one of Brydge's new Pro+ keyboards on hand, and thought we'd check it out to see how it works with Apple's new 2020 iPad Pro models. Subscribe to the MacRumors YouTube channel for more videos. The Brydge Pro+ keyboard is similar in design to...

Intel Unveils 10th-Gen Processors Suitable for Next 16-Inch MacBook Pro With Wi-Fi 6 and Turbo Boost Speeds Above 5GHz

Thursday April 2, 2020 7:53 am PDT by Joe Rossignol
Intel today announced the launch of its latest 10th-generation Core processors for high-end notebooks, potentially including the next 16-inch MacBook Pro. The batch of 45W chips, part of the Comet Lake family, are built on Intel's 14nm++ architecture. The new H-series chips have the same base clock speeds as the 9th-generation chips in the current 16-inch MacBook Pro, but Turbo Boost speeds...

Apple's Work on New Upcoming Products Progressing Normally as Employees Adjust to Telecommuting

Monday March 30, 2020 11:58 am PDT by Juli Clover
Apple's development of upcoming products is progressing as usual despite the fact that Apple employees around the world are working from home, according to a new report today out from Bloomberg. Apple is still working on new versions of the HomePod, Apple TV, MacBook Pro, budget iPads, Apple Watch, iPhone, and iMac, all of which could be released "as early as later this year" and have been...

2020 iPad Pro May Not Have a U1 Ultra Wideband Chip After All

Wednesday April 1, 2020 8:49 pm PDT by Joe Rossignol
While it was previously reported that all 2020 iPad Pro models feature the same Apple-designed U1 chip as the iPhone 11 lineup, enabling Ultra Wideband support, we have compiled evidence to suggest that this may not be the case. As a reminder, Apple's tech specs for the iPhone 11 and iPhone 11 Pro list an Ultra Wideband chip for spatial awareness, but the chip is not mentioned in Apple's...