Venmo To Allow You To Sell Items Through Your Accounts (In Money)

Soon you will not need to set up another account to sell items through Venmo, even if you do not have the payment fees that business profiles already pay for. The new plan will take effect on July 20, according to a Sunday email to users announcing the modified services.

Venmo, a PayPal payment and digital app, which barred former users from receiving business payments through their accounts. Anyone suspected of violating the law endangers their own accounts.

Effective July 20, each user should exchange whether the money they send is good or good. Such sales are required to receive a Venmo purchase protection plan, and the seller must pay the equivalent of 1.9% plus ten cents spent on business, a Venmo spokesman told Wall Street Journal. Venmo will only charge a fee for the shipment price, depending on the release.

It makes sense for Venmo to minimize events in this way so that users do not have to create multiple accounts. A Venmo-powered spacecraft exploded during the coronavirus epidemic as more people turned to digital payment systems and the program added other features such as allowing for savings on exercise screening, the magazine said. But there is more other digital payment software which you can choose if users decide that Venmo is not good to use.

Obviously, this change also contributes to Venmo’s findings, which have already seen a major leap. In February, PayPal mentioned that Venmo users increased 32% in 2020 to 70 million active users. Total revenue rose to $ 1.57 billion in the fourth quarter, up from $ 507 million last year. PayPal CEO Dan Schulman previously told the bankers that Venmo’s investment is expected to reach $ 900 million by 2021.