Why Venmo?
Venmo is an ewallet favored by Millennials and Gen Z consumers—digital natives who are indispensable for topline growth as they account for more than ½ of the US population. In fact, 85 million consumers have Venmo accounts, which they rely on for social commerce, ease of use and the ability to split purchases with friends.
BROAD ADOPTION
1 in every 3.5 Americans has a Venmo account.
Largest demographic is people who are 24 to 35 years old.
Can be used in-store and for eCommerce.
MERCHANT-REPORTED BENEFITS AFTER ADDING VENMO
19% Higher conversion rate
Consumers using Venmo complete transactions 19% more often than those who use traditional payment methods. And they shop more than twice as much as the average shopper!
57%Customers spend more
When they shop, they spend. In fact, merchants have reported a 57% increase in average order value—making Venmo a great way to increase your topline.
34%More unplanned purchases
Gen Z digital natives consider fashion a form of entertainment, which may explain why Venmo can increase unplanned clothing purchases by as much as 34%.
Source: PayPal/Venmo
How Citcon makes it easy to accept Venmo
Citcon provides a one-stop shop for Venmo integration and onboarding. And we offer small and midsize businesses the support they need to thrive. If trouble does arise, we provide dispute management and a single source of settlement. Plus, Venmo Purchase Protection helps prevent losses due to fraud, saving you valuable time and money.
in store
Accept touch-free Venmo payments in-store
Consumer can choose Venmo as preferred payment method during check-out.
A QR code is presented. Customer goes to the Venmo app and scans your QR code or they tap “Show to Pay” and you scan their QR code.
The customer confirms the purchase The customer will confirm the purchase in their app.
The transaction is complete Simple, frictionless, touch free checkout experience.
mobile
Accept Venmo through mobile phones
Consumer can choose Venmo as preferred payment method during check-out.
Consumers can choose Venmo as preferred payment method during check-out.
Venmo app opens, including charge.
Consumer approves charge.
Venmo app confirms transaction.
If consumer has a remaining account balance, Venmo posts update.
Desktop
Accept Venmo through desktop browsersConsumer can choose Venmo as preferred payment method during check-out.
Payment Screen: Venmo QR Screen Displayed
User scans QR code
Venmo App Confirms Transaction
Get startedCitcon can help you increase your topline by integrating with Venmo and 150+ preferred payment options worldwide. Sign up now to talk with one of our experts.
