GITNUX MARKETDATA REPORT 2024

Venmo Processing Time Statistics

Venmo typically processes transactions within one business day, but delays can occasionally occur resulting in processing times of up to three business days.

With sources from: venmo.com, businessofapps.com, digiday.com, cnbc.com and many more

Statistic 1

Around 40 million Americans made use of Venmo in 2019.

Statistic 2

Venmo’s 2021 first quarter reported payment volume of $51bn, a 63% year-over-year increase.

Statistic 3

As of 2020, Venmo is currently available only in the United States.

Statistic 4

In 2019, the total payment volume processed by Venmo was over $102 billion.

Statistic 5

Up to 30% of Venmo transactions are online purchases.

Statistic 6

In 2021, 15% of Venmo users already had enabled the app’s pay-by-credit feature.

Statistic 7

Venmo’s net payment volume in 2018 was around $62 billion.

Statistic 8

Approximately 70% of millennials who use payment apps use Venmo.

Statistic 9

Venmo's estimated annual revenue is $300 million.

Statistic 10

Venmo social feed interactions have increased by 300% during 2018-2019.

Statistic 11

More than 7 million businesses accept Venmo as a payment method.

Statistic 12

As of 2020, 92% of Venmo users are under the age of 35.

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In this post, we will explore key statistics surrounding Venmo, the popular mobile payment app used by millions of Americans. From the impressive growth in payment volume to the demographics of its users, these statistics shed light on Venmo’s significant presence in the digital payment landscape.

Statistic 1

"Around 40 million Americans made use of Venmo in 2019."

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Statistic 2

"Venmo’s 2021 first quarter reported payment volume of $51bn, a 63% year-over-year increase."

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Statistic 3

"As of 2020, Venmo is currently available only in the United States."

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Statistic 4

"In 2019, the total payment volume processed by Venmo was over $102 billion."

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Statistic 5

"Up to 30% of Venmo transactions are online purchases."

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Statistic 6

"In 2021, 15% of Venmo users already had enabled the app’s pay-by-credit feature."

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Statistic 7

"Venmo’s net payment volume in 2018 was around $62 billion."

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Statistic 8

"Approximately 70% of millennials who use payment apps use Venmo."

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Statistic 9

"Venmo's estimated annual revenue is $300 million."

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Statistic 10

"Venmo social feed interactions have increased by 300% during 2018-2019."

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Statistic 11

"More than 7 million businesses accept Venmo as a payment method."

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Statistic 12

"As of 2020, 92% of Venmo users are under the age of 35."

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Interpretation

Venmo has seen significant growth in user base and transaction volume over the years, becoming a popular choice among Americans, especially millennials. The platform's expansion into online purchases and introduction of new features like pay-by-credit have contributed to its increasing adoption. With a reported payment volume exceeding $100 billion and an estimated annual revenue of $300 million, Venmo has established itself as a key player in the digital payments industry. Its social feed interactions have also shown substantial growth, indicating a high level of user engagement. Looking ahead, Venmo's integration with businesses and its appeal to a younger demographic suggest continued success and relevance in the market.

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