What is a Venmo business profile?
Business profiles are built for individuals or sole proprietors, associations/clubs, and registered businesses. They allow Venmo users to create a separate Venmo profile linked to their account to accept payments for goods and services. Business profiles are subject to fees and tax reporting requirements.
What are the benefits of using a business profile?
Business profiles are designed with your business needs in mind. By creating a business profile, you’ll gain access to specialized features like enhanced payments and more.
Some benefits of creating a business profile include, but are not limited to:
- Increased visibility for your business in the Venmo feed
- Ability to generate referrals among socially engaged Venmo users
- Options to provide potential customers with more information about your business, including links to a website and social media accounts
- In-app photo gallery to feature products and services (only available for some industries)
- Ability to refund customers directly from the Venmo app
- Formal tax documentation for business profiles that meet or exceed federal and state reporting thresholds
- This information is not intended to be and should not be construed as tax advice. You should consult a tax professional regarding your reporting of these transactions.
- Ability to enable tipping on payments your business receives
- Ability to accept contactless payments from compatible cards and digital wallets with Tap to Pay
How do customers find my business profile on Venmo?
When a customer is paying you in-person, the easiest way for them to find you is by scanning your Venmo QR code. You can find your code by tapping Charge at the bottom of the app and then tapping QR Code.
Venmo users can also find your business profile by searching for your business name or username in the Venmo app or on the Venmo website. Search results can be narrowed to show only businesses, making it easier for potential customers to find your business profile.
Once you create your business profile, you and your customers can share the profile on social media and other platforms outside Venmo to get the word out.
To make sure that your business appears in searches, you’ll need to opt-in to the “Search” marketing feature.
- This feature is enabled by default for new businesses, but you can confirm this or disable it by tapping Market your business profile from your business profile Settings menu in the Venmo app
Are there other ways to accept payments in person?
If you’ve signed up for Tap to Pay, you can accept contactless payments in-person from customers’ compatible cards and digital wallets. Your customers don’t even need to have a Venmo account.
Please note that fees for payments accepted with Tap to Pay differ from fees for payments your business profile receives from other Venmo accounts.
How can I close my business profile?
You can close your business profile while keeping your personal profile active. If you’d like to close your business profile, please contact us.
At this time, business profiles cannot be reactivated once they’ve been closed. Additionally, in compliance with tax requirements, you may need to complete identity verification in order to close your Venmo account.
What should I do about disputes?
If there’s a problem with a purchase, whether you’re the business or the customer, please reach out to the other party in the transaction first. They should be able to assist further.
If you’re not able to come to a resolution with the business or the customer, please reach out to Venmo’s Support team.
For contactless payments accepted with Tap to Pay on iPhone or Tap to Pay on Android, customers should contact their financial institution for next steps.
Certain purchases for goods and services from business profiles are eligible for our Venmo Purchase Program. More details can be found in our User Agreement.