What funding source is used to pay for purchases with participating online merchants?
When you make an online purchase from an authorized merchant using your Venmo account and there aren’t enough funds in your balance (or if you don't have access to a Venmo balance), the entire amount of the purchase will be taken from the backup payment method that you’ve set.
Can I use different payment methods when I’m purchasing in merchant apps and websites, and when I’m sending money to friends from the Venmo app or on Venmo.com ?
Yes, you can set different default payment methods for online purchases and payments to friends. You’ll be prompted to set up these payment methods when you make an online purchase for the first time.
How do I change my payment method for online purchases?
We are currently rolling out a new payment experience, so depending on the merchant you are transacting with, you may be presented with the opportunity to choose your payment method at the time of your purchase.
If you aren't prompted to select a payment method at checkout, the backup payment method you’ve set for purchasing through Venmo will be charged if your Venmo balance cannot cover your purchase amount.
To change your backup payment method for online purchases, navigate to "Settings" in the app. Under the "Buying" heading, tap "Backup Payment." There, you can choose your preferred default or add a new bank account or card.