Venmo business profiles charge 1.9% + $0.10 per payment received — lower than PayPal’s standard rate — with no monthly fee. Here is how Venmo for business works in 2026.
Venmo Business Profile at a Glance
| Feature | Details |
|---|---|
| Monthly fee | $0 |
| Transaction fee (receiving) | 1.9% + $0.10 per payment |
| Weekly receiving limit | $24,999.99 |
| 1099-K issued at | $600/year or more |
| Separate from personal account | Yes (linked but separate) |
| QR code for payments | Yes |
How Venmo Business Fees Compare
| Platform | Transaction fee |
|---|---|
| Venmo Business | 1.9% + $0.10 |
| PayPal Goods & Services | 3.49% + $0.49 |
| Square | 2.6% + $0.10 (in-person) |
| Stripe | 2.9% + $0.30 |
| Cash App Business | 2.75% per transaction |
Venmo’s 1.9% + $0.10 rate is among the lowest for app-based business payments.
How to Set Up a Venmo Business Profile
- Open Venmo → tap your profile photo
- Select Create a Business Profile
- Enter your business name and category (retail, food, services, etc.)
- Upload a logo or profile photo (optional)
- Confirm identity verification if prompted
- Your business profile is live — share your business @username or QR code with customers
You can switch between your personal and business profile at any time using the toggle at the top of the app.
Receiving Payments as a Business
Customers can pay your Venmo business profile by:
- Searching your business @username
- Scanning your business QR code
- Tapping your business name in the Venmo app
- Using the Venmo payment button if you integrate it on a website
Each payment received incurs the 1.9% + $0.10 fee before the remainder is credited to your business balance.
Example: A customer pays you $100
- Venmo fee: $1.90 + $0.10 = $2.00
- You receive: $98.00
Transferring Business Funds to Your Bank
- Standard transfer: Free, 1–3 business days
- Instant transfer: 1.75% fee (minimum $0.25), arrives in minutes
Tax Reporting
Venmo sends a Form 1099-K if your business profile receives $600 or more in a calendar year. This applies even for part-time freelancers and sole proprietors. Keep records of all business payments in Venmo — you can export your transaction history as a CSV from the app.
Is Venmo Right for Your Business?
Good fit:
- Freelancers, tutors, handymen, and other service providers
- Small retailers who serve a younger, app-savvy demographic
- Businesses that already use PayPal (Venmo is owned by PayPal)
Not ideal:
- E-commerce (limited integration options vs Stripe/Square)
- Businesses that need invoicing, inventory, or point-of-sale tools
- High-volume businesses (weekly limit of $24,999.99)
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