Business profile fees allow Venmo to provide this service for vendors. Learn more about how these fees work and the benefits of this service for business owners.
How do the fees work?
Business profile owners are charged a low fee for every payment they receive of $1.00 or more. Please note, different fees apply depending on how your customers pay you.
For payments sent to your business profile from another Venmo account, the seller transaction fee is a standard rate of 1.9%+$0.10 of the payment.
- For example, if a customer uses their Venmo account to pay $100.00 to a business profile, $2.00 of that payment would be charged as a seller transaction fee and the business owner would receive $98.00.
For contactless payments accepted with Tap to Pay on iPhone or Tap to Pay on Android, the seller transaction fee is a slightly higher rate of 2.29%+$0.10 of the payment.
Please note, Venmo is not able to refund seller fees for payments sent to your business profile from another Venmo account. The fees help Venmo to continue to provide this service and develop the service further. Business profile fees are in line with industry standards.
Why doesn’t the buyer have to pay the fee?
The fees for using a business profile are charged to the merchant rather than the customer, in line with industry standards.
It’s worth noting that Venmo users who make a payment to a business profile using a credit card will be exempt from the standard 3% Venmo fee on payments funded by credit cards.
Make sure you’re familiar with the standard Venmo fees that will apply to you and your customers here: https://venmo.com/resources/our-fees/
Can I get a refund for the fee?
The fees assessed to payments received by business profiles allow Venmo to continue providing and improving the service. We are not able to refund these fees.