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Venmo is putting a heavy focus on the ease of use of checking out using its fairly well-known platform. Instead of users having to input credit card information for every transaction, a Venmo option will be available during checkout with supported apps. This is akin to the experience introduced by Apple Pay, with the difference being that Pay with Venmo is a cross-platform solution for both iOS and Android.
The company also appears to have high hopes that using the platform to checkout with various vendors will bring new businesses into the spotlight within the Venmo social network. Whenever a purchase is made with Venmo, users have the option to share it as a public transaction, or keep it private of course. When these purchases are made from partner vendors of Pay with Venmo, it brings an opportunity to start a discussion around the transaction amongst friends (and give the vendor free marketing).
Another noted feature is that when customers use the Pay with Venmo option, they can pay for something now, and then split the transaction amongst friends later. This is great for when multiple parties are looking to grab a cab, hotel room, or pay for dinner and split the ticket. Venmo’s solution means no longer having to hassle with the payment at the time of purchase as it can be split later on.
Venmo introducing this feature is definitely interesting in light of the fact that Apple Pay has been around for quite a while now and supported on more and more iPhones and iPads. Adding another pay avenue for the consumer allows for more options, but Apple will surely encourage their own Touch ID-based solution within apps.
Here’s what Venmo said about availability:
“We’ve emailed everyone who can start using Venmo to pay in select apps. Didn’t get an email? Right now, we’re limiting availability, but stay tuned—we’re adding users regularly, and will let you know when you can start paying!”
Currently the feature is only available within Munchery and Gametime, and only for select users. For businesses looking to integrate with Venmo, there is a business specific page linking to more information on how to get started. The Venmo app itself is available for free in the App Store and is compatible with iPhones and iPads running iOS 8.0 or higher.