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New Venmo Behavior Study explores valuable insights for merchants to consider to reach a broader audience including Venmo customers’ financial habits, purchasing behaviors and perceptions of Venmo as a payments tool.
A glimpse into the findings:
What’s clear from the data is that Venmo customers want to pay with Venmo at merchants because they trust the brand.
The data shows:
Nearly half (47%) of customers are interested in using Venmo as a payment method when checking out with merchants, ranging from merchants in everyday spend categories like groceries to those offering clothing, shoes and fashion apparel.
89% of customers prefer to pay with Venmo because they trust the brand, it's easy to use and because it allows them to split transactions.
Did you know that…
More than 2 million merchants already offer consumers the ability to pay with Venmo at checkout. Merchants including Lyft, Uber, TicketMaster, StitchFix, StockX, Hulu, Pottery Barn, Freshly, Amtrak and GoPuff, are all a part of the Venmo community.
Interested in learning more about Venmo users purchasing habits?