Venmo Statistics and User Count (2023)
Last Updated on: May 17th, 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.
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?
Last updated 1/1/23
Venmo Revenue Totals
Venmo’s revenue run rate:
Last updated 11/9/21
Percentage of PayPal’s dollar volume that comes from Venmo:
Last updated 4/24/19
Amount Venmo processed in payments in 2022:
Amount Venmo processed in payments in 2019:
Amount Venmo processed in payments in 2016:
Additional Venmo Statistics
Percentage of young Americans that use mobile payments that use Venmo:
Last updated 4/27/17
Number of retailers in the US that Venmo is accepted at:
Last updated 1/1/18
Number of Venmo employees:
Last updated 2/14/17
First month Venmo crossed $1 billion in transfers:
Number of Uber-related transactions on Venmo in 2017:
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)
Please note that some of these numbers are easier to find than others. A few of these Venmo statistics come from their own reports, but some are based on news reports and not official company tallies. No information contained on DMR should be relied upon to make investment decisions. Basically, this is the best I can find and I don’t guarantee anything to be 100%.