We are currently in the process of releasing Tap to Pay on iPhone and Tap to Pay on Android for Venmo business profiles.
- Look for the Tap to Pay option under Charge on your business profile to get started. If you don’t see a Tap to Pay option, make sure you have the latest version of Venmo installed on your device.
What is Tap to Pay on iPhone?
Tap to Pay on iPhone enables Venmo business profile owners to accept in-person contactless payments – from compatible credit and debit cards, Apple Pay, and other digital wallets – right on their iPhone. No extra terminals or hardware are needed. Your customers don’t even need a Venmo account.
When you use Tap to Pay, you can create a charge from your Venmo app and accept in-person payments that settle into your Venmo balance.
What payment methods can I accept with Tap to Pay on iPhone?
You can accept Apple Pay on iPhone and Apple Watch, other digital wallet payments including Android, and contactless debit and credit cards.
Which devices are compatible with Tap to Pay on iPhone?
Tap to Pay on iPhone requires iPhone XS or later that runs iOS 16 or later.
Are there any fees to accept Tap to Pay payments?
Yes. Venmo charges business profile owners a fee of 2.29% + $0.09 of the payment total for each payment accepted with Tap to Pay. Payments sent to your business profile from another Venmo account (not using Tap to Pay) will still incur the standard fee rate of 1.9%+$0.10 for each payment of $1.00 or more.
How can I set up Tap to Pay on iPhone for my business profile?
In the Venmo app, tap Charge, then Tap to Pay on iPhone to get started. We’ll ask for some personal details upfront before you can start accepting contactless payments. Learn more about getting started with Tap to Pay on iPhone.
How do I accept contactless payments?
- For customers with contactless debit or credit cards, present your iPhone and ask the customer to hold their card horizontally on the tap area until you see the “Done” confirmation on your screen. This may take a few seconds.
- For customers with Apple Pay and other compatible digital wallets, present your iPhone and ask the customer to hold their device near the tap area until you see the “Done” confirmation on your screen.
Where does the money go when I collect a contactless payment?
After accepting a contactless payment, you’ll see the transaction pending in your business profile history. It can take up to 30 minutes to fully process this type of transaction, after which the funds will be deposited into your business profile balance.
Is Tap to Pay on iPhone secure?
Tap to Pay on iPhone uses the built-in features of iPhone to keep your business and your customer data private and secure. When a payment is processed, Apple does not store card numbers on the device or on Apple servers, so you can rest assured knowing your business stays yours.
Do my customers need to have a Venmo account?
Nope! By accepting contactless payments with Tap to Pay on iPhone, you can accept payments from anyone with a compatible card or digital wallet – as long as you’re physically located in the United States. Customers who already have a Venmo account can still pay you through the Venmo app, or you can accept their payment using Tap to Pay.
Please note that fees for payments accepted with Tap to Pay differ from fees for payments your business profile receives from other Venmo accounts. You can learn more about Venmo fees on our website.
Are Tap to Pay transactions included in my tax reporting?
The IRS requires Venmo to report payments you receive for sales of goods and services in excess of the federal threshold. This includes payments accepted through your Venmo business profile using the Tap to Pay feature.