Venmo Statistics and User Count (2023)

Venmo is a popular mobile payment service that allows users to send, receive, and request money from friends, family, and other contacts. It was founded in 2009 and is currently owned by PayPal.

Venmo is primarily used for peer-to-peer transactions, making it convenient for splitting bills, sharing expenses, and making informal payments. Users can link their bank accounts, debit cards, or credit cards to their Venmo account to fund transactions. The service is accessible through a mobile app, available for both iOS and Android devices.

When making a payment on Venmo, users can specify the recipient, the amount, and include a note or description for reference. The app also allows users to add a social element by including emojis, comments, or even “liking” transactions, creating a social feed-like experience.

Venmo provides a level of transparency, allowing users to view their transaction history, monitor balances, and easily track payments made or received. It also supports splitting bills among multiple people, enabling users to divide expenses and request payments from specific contacts.

Venmo has gained popularity for its user-friendly interface, social features, and ease of use. It has become widely adopted among younger demographics and is often used for casual transactions between friends and acquaintances.

In addition to its core peer-to-peer payment functionality, Venmo has expanded its services to include features like Venmo Card (a physical debit card linked to a user’s Venmo account) and the ability to make payments at select merchants using the Venmo app.

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Venmo Statistics

Here are a few of the most interesting Venmo statistics and facts I was able to dig up including user counts. As always, be sure to check back in the future as I will be updating this post as new and updated stats become available.

Venmo User Count

How many people use Venmo?

78 million active users

Last updated 1/1/23

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Venmo Revenue Totals

Venmo’s revenue run rate:

$900 million

Last updated 11/9/21

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Percentage of PayPal’s dollar volume that comes from Venmo:

13%

Last updated 4/24/19

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Amount Venmo processed in payments in 2022:

$244 billion

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Amount Venmo processed in payments in 2019:

$102 billion

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Amount Venmo processed in payments in 2016:

$17.6 billion

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Additional Venmo Statistics

Percentage of young Americans that use mobile payments that use Venmo:

66%

Last updated 4/27/17

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Number of retailers in the US that Venmo is accepted at:

2 million

Last updated 1/1/18

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Number of Venmo employees:

200

Last updated 2/14/17

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First month Venmo crossed $1 billion in transfers:

January 2016

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Number of Uber-related transactions on Venmo in 2017:

6 million

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Venmo Payment Limits

• $6,999.99 weekly spending limit if your identity is verified
• $299.99 weekly spending limit if your identity is not verified

Last updated 10/27/21 (source)

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