Venmo vs Square?

[Clay17]

Doing a show yesterday I had a few people asking me if I do Venmo. While I'm familiar with Venmo I really don't see any benefit as a seller to use it.  I can't help but wonder if I'm mistaken and there is something I'm not aware of.

BTW, everyone of the people that asked about Venmo was still able to provide me with a credit card and the sale went through Square with out any problems. 

Your thoughts?

[Mark C.]

Square for me  all the way-Venmo is owned by paypal and fees are now going up

This is for shows I'm talking about

Edited July 22 by Mark C.

[Min]

Just got an email yesterday saying Square percentages are going down in the fall in Canada, don't know if this is happening in the US also.

"Dear Seller,

We’ve recently reviewed our pricing in light of the Canadian government’s agreement with Visa and Mastercard to lower credit card transaction fees. Specifically, for eligible small businesses, Visa and Mastercard have agreed to reduce domestic consumer credit interchange fees for in-person and online transactions, effective Saturday, October 19, 2024.*

In order to support our sellers and continue to keep our processing fees clear and simple, Square will pass through savings by lowering our standard credit card processing fees for in-person and online transactions, for all sellers (not just eligible businesses) and across all credit card types. We expect to complete the technical changes required for these reductions and implement our new pricing by Monday, October 21 , 2024. While not part of the government agreement, we will also be lowering our online processing fee for debit transactions.

Although this represents a significant pass through in savings for our sellers, this may not necessarily represent a full pass-through on a per-transaction basis as card network fees are complex and vary by card mix and transaction type. Square simplifies this complexity by offering sellers a blended rate that covers the various network fees we handle on your behalf.

We are finalizing details and will notify you about our lowered processing fees by no later than September 18, 2024. We appreciate your trust in Square and your continued partnership.

Sincerely,

The Square team"

[Hyn Patty]

I use Paypal myself and have a good long while now.  My website however takes all kinds of payments.  I used to use Square but I don't really do in person sales anymore, everything is online.  I have thought about ditching Paypal and going back to Square but Square is all the time /still/ sending me other people's receipts randomly even after not using it for years.  It worries me that they are so screwy that they can't get receipts and charges to the right people, do I really want them handling my accounts?  I report the misfiled receipts and never get any response.

[Kelly in AK]

I found no reason for Venmo after using Square. One more hassle I didn’t need. Square’s too easy. I have Venmo, very rarely have need for it. 

[Clay17]

Thanks for your input everyone. 

I don't think Square in the US is lowering their fees since our government isn't making CC companies lower theirs'. I guess one can hope.

I've used Square since almost from their beginning and back then many associates thought I was nuts.  Also back then the CC fees where astronomical, I literally saves 100s of dollars each month.  I was wondering if I wasn't aware of something Venmo was offering. Looks like I'm not.

FWIW, I use Paypal for online payments through my website, Square was to fussy to bother with. 

[Roberta12]

I use Square and Venmo.  It seems my younger customers prefer Venmo.  At shows, I only get one or two Venmo payments, however at off times, people coming to my studio, etc, Venmo wins.  It does seem to be younger people who prefer it.  They are both pretty easy.  

r.