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Miscellaneous

How does venmo make money?

2 Answers
ANSWER

Venmo generates revenue through transaction fees. Venmo charges a 3 percent fee for payments by credit card.

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Venmo generates revenue through a 2.9 percent transaction fee for businesses. Venmo also charges a one percent fee for users who want to withdraw money instantly to their linked card, usual withdrawals take one to two days.

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