PayPal vs. Venmo: What's the Difference?

14 0 0

PayPal vs. Venmo: An Overview

PayPal Holdings Inc

Oops! This image does not follow our content guidelines. To continue publishing, please remove it or upload a different image.

PayPal Holdings Inc. and Venmo (a subsidiary of PayPal) are two huge names in the digital wallet game. 

PayPal is the long-standing, trusted payment service that came to prominence as a payment method for eBay. 

Venmo, the new digital wallet, has become so popular among millennials that many use the term "to Venmo" colloquially as a verb.

About FREE PayPal Money 

Begin with the world's biggest and most secure installment framework. You may utilize Paypal through your PC, tablet, or cell phone to get and send installments easily. 

Information exchange for PayMoneyReward, complete studies and reclaim your focuses for a $5 Paypal!

 Be moved $5 Paypal cash in only seconds and after that utilization it immediately! So as to begin with Paypal, you have to make a record with your email address.

When your record is made, you can begin making buys with your Paypal account in more than 8 million organizations on the web.

Paypal offers an extra dimension of security among you and a trader vender.

 Likewise, Paypal's misrepresentation assurance verifies and check your exchanges all day, every day to give you genuine significant serenity.

 Paypal gives you control of your assets in the easiest manner conceivable. Besides, with Paypal One Touch, making buys are just a second away. 

By joining with Paypal One Touch, your login data will be put away for you and your skirt through the problems of rounding out your charging data and signing into your record.

 Rather, at qualified shippers, you will just need to click once to make a buy!

It's the ideal opportunity for you to return Paypal cash to your own pocket. Complete reviews at PayMoneyReward and reclaim for your $5 Paypal cash today!


PayPal

The first widely-known and -used digital wallet was PayPal

Oops! This image does not follow our content guidelines. To continue publishing, please remove it or upload a different image.

The first widely-known and -used digital wallet was PayPal. PayPal was founded in 1998, went public in 2002, and was quickly purchased by eBay. 

The site grew; by the time PayPal was spun-off in 2015, it had become a huge moneymaker for the auction site.

In 2009, Andrew Kortina and Iqram Magdon-Ismail found themselves needing a way to quickly and easily transfer money to one another. 

Aiming to provide the convenience of cash without the hassle of carrying money around, Venmo was born. In 2012, Braintree bought Venmo, and in 2013, PayPal acquired Braintree.

While both of the apps are used to facilitate transactions and to easily and securely transfer money between bank accounts, PayPal has diversified into other financial products and is beginning to resemble a bank more than a payment app.

Today, PayPal not only offers payment services but it also finances large purchases, extends lines of credit, and provides customers with debit MasterCard Inc., 

which use PayPal balances to pay for things in a brick-and-mortar store or to withdraw cash.

 With PayPal being so widely known, there are stores throughout the world which will accept PayPal payments for goods or services; some even accept contactless PayPal payments.

Important: PayPal charges 2.9 percent + $0.30 for payments from debit and credit cards but offers free transfers from PayPal balances. Venmo is free to use.

Venmo

Venmo is partly a digital wallet, partly a social media feed

Oops! This image does not follow our content guidelines. To continue publishing, please remove it or upload a different image.

Venmo is partly a digital wallet, partly a social media feed. 

The app asks for comments on every transaction, and these comments are posted, newsfeed-style, for friends to browse. 

People use this comment box to post amusing stories and inside jokes. Venmo adds an element of fun to pay a friend back for dinner last night. 

There are also privacy settings that allow users to control which transactions, if any, are visible.

Part of Venmo's appeal is that it replaces the impersonal, private transacting that happens on PayPal with a network of friends. 

In fact, Venmo's website even explicitly states that the service is "designed for payments between friends and people who trust each other."

With a system designed to emulate cash payments, transfers between Venmo accounts are instantaneous and cannot be undone: paying the wrong person means asking nicely that they return your money and hoping they do. 

The company can also intercede, but the recipient must consent to the refund. Venmo, on the other hand, is really good at what it does. It replaces cash when you owe friend money. 

You can't pay Netflix Inc. with Venmo, but you can pay your roommate your half of the Netflix bill. 

Venmo has also branched out into traditional banking services, albeit in a more limited capacity than PayPal.

Venmo is Free to Use. 

Credit card payments are subject to the 3% percent transaction fee that the card company charges, but debit card payments and transfers from a user's balance cost nothing.

The Bottom Line

Comparisons of Venmo and PayPal often conclude that Venmo is the superior service because of its ease of use. 

Here are some other free gift cards you might like you can redeem with your earned points.

How to Get Free PayPal Money Update (2019)Read this story for FREE!