PayPal’s Venmo Soon to Enable More Online Payments

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Venmo PayPal represents an act of diversification from the world’s best-known eWallet provider. Here, the intention is to explore how it works and what the benefits might be.

Making Venmo Payments Online

Venmo was receiving a gradual roll out in North American during late 2017. For new adopters, there are still key issues such as where is Venmo accepted / who takes it. The focus is very much on mainstream retailers, so don’t except to be gambling with Venmo in the near future – just stick with  PayPal casino deposits for now.

What is Venmo?

In explaining Venmo, it is essentially a new eWallet that can connect with PayPal, debit/credit cards, or bank accounts. Of course, there are other considerations relating to what exactly this is.

P2P Payments

Venmo offers the capability for completing person-to-person payments in a more streamlined way than PayPal. Through the Venmo mobile app, users shall be able to complete P2P / peer-to-peer payments. These can be for personal transactions between friends or else to split bills in cafés and restaurants.

How it Works

Now that the basics have been explained, it is worth seeing how to get started and whether the process differs greatly next to PayPal and other eWallets:

  1. Create an account: A new user can visit the Venmo site and create an account through signing up via PayPal or submitting their email address.
  2. Download the Venmo app: Venmo has created apps that are downloadable through the App Store or Google Play.
  3. Add a payment method: After setting up the account, you then need to verify your bank account or credit/debit card through completing a micro transaction.

Where is Venmo Accepted?

As of late 2017, Venmo can only be used by US residents, who must also have a US cell phone number. In addition, users must also hold a valid US bank account. There is currently no word on whether Venmo shall be opened to UK / international / countries anytime soon, but there is already stiff competition waiting.

What Are the UK Venmo Alternative?

The UK does not currently have access to Venmo, but there are already alternatives that Venmo will have to contend with if the eWallet does enter the marketplace:

    • Paym: Users have the ability to make mobile bank transfers without having to enter an account number of sort code. All that will be required is the person’s mobile phone number.
    • Circle: eWallets can come with frees from using payment methods to fund them, but Circle is a mobile app promising to send money like a text message and without frustrating fees being added on.
  • Verse: The Verse mobile app is available now via the App Store and Google Play. Those who install Verse shall have the power to make instant mobile payments in the same timeframe as sending a text.

Venmo highlights how digital payment providers are constantly trying to evolve the process to become more efficient, but there is no telling whether or not this will ever be suitable for online gambling.

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