Venmo Statistics 2025: Transaction Volumes, Revenue, and Market Share

Imagine this: You’re splitting a dinner bill with friends, shopping online, or even paying for a cup of coffee at a local café. Venmo, a name synonymous with seamless peer-to-peer payments, has revolutionized how people in the U.S. manage their finances. Founded in 2009, Venmo has transformed into much more than just a digital wallet—it’s now a vital part of the social and economic fabric. In 2025, the company’s impact continues to grow, fueled by cutting-edge innovations and a rapidly expanding user base. This article explores key Venmo statistics for 2025, unpacking its milestones, growth, and influence.

Editor’s Choice: Key Milestones

$290 billion: Venmo’s projected annual payment volume in 2024, reflects a 20% increase from the previous year.
As of Q1 2024, Venmo has 85 million active users, maintaining its dominance as one of the largest digital wallets in the U.S.
Venmo’s business adoption rate rose to 42% in 2024, with small and medium enterprises citing a 15% increase in transaction efficiency when using the platform.
Integration with Zelle and PayPal systems accounted for a 30% boost in cross-platform transactions by the start of 2024.
Venmo’s introduction of “Pay Later” financing options resulted in a 35% uptick in millennial and Gen Z usage.
Crypto adoption via Venmo wallets saw a 25% year-on-year growth, with Ethereum and Bitcoin being the most traded assets.
The platform’s transaction fee revenue hit $1.1 billion in 2023, a number projected to exceed $1.4 billion by the end of 2024.

Growth of Venmo Users Over the Years

Venmo had 41.5 million users in 2019, marking the early phase of rapid adoption in the US peer-to-peer payment space.
By 2020, users surged to 62.6 million, a growth of over 50% from the previous year.
In 2021, the platform reached 70.1 million users, reflecting continued momentum in mobile payment usage.
2022 saw 77.7 million users, a year of stable expansion as digital payments became more normalized post-pandemic.
The user count jumped to 85.1 million in 2023, showing strong retention and onboarding despite increased competition.
In 2024, Venmo reached 91.2 million users, moving closer to the 100 million milestone.
As of 2025, it has 97.1 million users, indicating consistent annual growth and nearing saturation in the US market.
In 2026, Venmo will hit 100 million users, establishing itself as one of the largest peer-to-peer payment platforms in the country.

User Demographics and Growth

Millennials represent 56% of Venmo’s user base, followed by Gen Z at 30% and Gen X at 12%.
70% of users access Venmo via mobile apps, with iOS devices leading at 45% and Android at 25%.
The largest regional user group is concentrated in the Northeast U.S., with 27% of all active users residing there.
Venmo usage is higher among individuals earning between $50,000–$75,000 annually, accounting for 41% of its user base.
83% of Venmo users are under the age of 40, showcasing its appeal to younger, tech-savvy individuals.
In 2024, Venmo added 3.5 million new users, reflecting a 4.2% growth rate compared to 2023.
The average user conducts 4 transactions per month, with an average transaction value of $60.

Venmo's Dominance Among Younger Generations

Venmo Usage: POS vs. Online Payments in the U.S.

Venmo is now accepted at over 2.2 million POS terminals, a 15% increase from 2023.
Online payments through Venmo accounted for 65% of all transactions, outpacing POS usage by 35% in 2024.
Small businesses that adopted Venmo reported a 12% higher checkout conversion rate, particularly in the food and beverage sector.
70% of college campuses in the U.S. support Venmo payments, making it a preferred choice for tuition and student activity payments.
The average POS Venmo transaction is valued at $45, while online transactions average around $70.
The introduction of Venmo QR codes at retail chains increased in-store payments by 25% over the last year.
85% of Venmo’s total transactions are conducted in U.S. dollars, with other currencies like euros and pounds contributing to cross-border transactions.

Venmo Active Users: Demographics

85 million active users are projected for 2024, with a significant rise in adoption among Gen Z users aged 18–24, now accounting for 30% of the total user base.
Women represent 52% of Venmo’s user base, while men account for 48%, showcasing near-equal adoption across genders.
The platform is most popular among users aged 25–34, comprising 36% of its active audience.
47% of Venmo users reside in urban areas, with 23% in suburban regions and 30% in rural areas, reflecting a broad geographic reach.
Hispanic and Latino communities showed the fastest growth rate on Venmo in 2024, increasing by 22% year-over-year.
College students remain a key demographic, with 40% of U.S. university students actively using Venmo for everyday transactions.
Among professionals, freelancers and gig workers make up 18% of users, often relying on Venmo for seamless payments from clients.

Venmo’s Market Share Compared to Competitors

PayPal leads the market with a dominant 32% share, positioning it as the most used payment service provider.
Stripe follows with 20.54%, showing its strong adoption among online businesses and developers.
Stripe Connect holds 19.62%, reinforcing Stripe’s broader ecosystem influence.
Adyen secures 11.54%, gaining traction in global e-commerce and retail platforms.
Square Point of Sale captures 3.38%, focused primarily on small and in-person businesses.
Braintree, a PayPal service, holds 2.46%, serving mobile and web payments.
Authorize.net has 1.51%, maintaining a modest presence among legacy systems.
QuickBooks commands 1.29%, driven by small business invoicing integration.
Venmo’s market share is just 0.85%, highlighting its niche use for peer-to-peer payments rather than business transactions.
WorldPay rounds out the list with 0.65%, indicating minimal traction in this competitive landscape.

Businesses Small and Large See Higher Conversion with Venmo at Checkout

Businesses reported a 15% higher checkout completion rate after integrating Venmo as a payment option.
Venmo’s “Pay Later” feature resulted in a 25% increase in high-ticket item sales, particularly in the retail sector.
Small businesses saw a 20% reduction in payment processing time, enhancing efficiency and customer satisfaction.
Over 3 million businesses in the U.S. now accept Venmo, a 25% increase from 2023.
Venmo is the third most-used payment method at U.S. e-commerce checkouts, capturing a 15% share of the market.
Restaurants and cafes that adopted Venmo QR codes reported a 30% boost in in-store transactions within six months of implementation.
Large retailers leveraging Venmo advertising saw a 12% increase in loyalty program sign-ups, highlighting its role in customer engagement.

Transaction Volume and Revenue

Venmo processed $290 billion in payments in 2024, up from $241 billion in 2023, showcasing a 20% annual growth rate.
65% of Venmo transactions are peer-to-peer, while 35% are business-related, reflecting its expanding commercial use.

Shifting Trends in Venmo's Transaction Landscape

Venmo generated $1.4 billion in revenue from transaction fees, a 27% increase year-on-year.
The platform facilitated $15 billion in crypto transactions, with Bitcoin and Ethereum dominating.
Cross-border payments surged by 18%, accounting for $30 billion of the total transaction volume.
The average annual spending per Venmo user reached $3,500, a 10% rise compared to 2023.
Instant transfer fees contributed $600 million to Venmo’s overall revenue, making it a critical profit driver.

Venmo’s Market Position and Share in the U.S.

Venmo holds a 21% share of the U.S. digital payment market, trailing closely behind Apple Pay and PayPal.
The platform is ranked as the most preferred payment app for millennials and Gen Z in 2024.
In competitive markets like California, New York, and Texas, Venmo is the leading payment app, with 35% market penetration.
Venmo has been adopted by 42% of SMBs (Small and Medium Businesses) in the U.S., reflecting its growing appeal in the commercial sector.
Venmo leads as the top digital wallet in peer-to-peer payments, with an 80% share of total P2P transactions.
PayPal’s integration with Venmo helped secure an additional $20 billion in shared transactions over the last year.
Venmo outpaced Zelle in monthly active users, recording a 15% higher engagement rate in Q2 2024.

The Continued Rise of Social Commerce

Venmo’s integration with social commerce platforms like Instagram and TikTok has driven a 40% increase in retail transactions on these channels.

Boosting Retail Transactions Through Social Commerce Integration

In 2024, 30% of Venmo users reported purchasing products directly from social media ads linked to Venmo payment options.
Influencer-driven sales leveraging Venmo as the checkout method have seen a 25% higher conversion rate than traditional payment methods.
Small businesses on social platforms using Venmo saw a 35% growth in monthly revenue.
Venmo’s “Pay with Venmo” button on Etsy increased sellers’ sales by 15% year-over-year.
Social media-linked Venmo transactions now represent 20% of the platform’s total payment volume, showcasing its growing influence in e-commerce.
Peer-to-peer payments tied to group events and crowdfunding campaigns grew by 28%, indicating the platform’s popularity in communal social settings.

Technological Innovations and Features

Venmo introduced biometric authentication in 2024, enhancing security for over 95% of active users.
AI-driven fraud detection systems reduced fraudulent transactions by 15% compared to 2023.
The rollout of multi-currency support allowed users to transact in 5 additional currencies, boosting international use by 18%.
Venmo’s voice-command-enabled payments, integrated with Alexa and Google Assistant, experienced a 22% adoption rate in 2024.
The Venmo Debit Card saw a 30% increase in usage, thanks to cashback incentives on grocery and fuel purchases.
Venmo introduced split bill AI recommendations, which are now used by 65% of users organizing group payments.
The introduction of “Smart Saving Goals” helped users set aside a total of $1 billion in savings directly through their accounts.

Venmo User Demographics by Age

Users aged 25 to 34 make up the largest group, accounting for 26.3% of all Venmo users—highlighting strong adoption among Millennials.
The 35 to 44 age group follows with 21.1%, showing broad usage among working professionals and mid-career users.
19.1% of users are between 45 and 54, indicating solid traction among Gen X users.
14.1% of Venmo users are aged 55 to 64, reflecting growing adoption among older adults.
Only 7.5% of users are 65 or older, making them the least represented age group on the platform.
Young adults aged 18 to 24 comprise 11.9%, showing a relatively lower share compared to older Millennials, but still a key user segment.

Venmo’s Crypto Wallet Users

Venmo’s crypto wallet adoption grew by 25%, reaching over 15 million users in 2024.
Bitcoin remains the most popular asset, accounting for 60% of all crypto transactions on Venmo.
Venmo facilitated $15 billion in crypto trades in 2024, up from $12 billion in 2023.
The average Venmo crypto user spends $600 annually on digital asset purchases.
80% of Venmo’s crypto wallet users are aged between 25 and 45, with a noticeable increase among tech-savvy millennials.
Venmo partnered with Coinbase to enable seamless wallet-to-wallet transfers, used by 35% of crypto users.

Venmo's Role in Simplifying Crypto Transactions

The platform’s new crypto education hub received 5 million views in its first quarter, helping demystify blockchain for its users.

Recent Developments

Venmo announced partnerships with Uber and Airbnb, allowing seamless in-app payments for their services.
The company launched Venmo for Teens, gaining 1 million sign-ups within the first six months of 2024.
Venmo’s “Loyalty Rewards Program” for frequent users saw a 20% uptick in recurring payments.
45% of SMBs adopting Venmo reported significant growth after leveraging its marketing tools in 2024.
The platform expanded its instant transfer feature, reducing wait times to under 60 seconds for 95% of users.
Venmo now offers personalized payment reminders through AI, improving bill payment timeliness by 30%.
The introduction of “Venmo for Nonprofits” helped charities raise $2 billion through donation campaigns in 2024.

Conclusion

Venmo’s journey from a simple peer-to-peer payment platform to a multi-faceted digital wallet exemplifies its dedication to innovation and adaptability. In 2024, the company solidified its place as a market leader, bridging the gap between social and financial connectivity. With advancements in crypto adoption, integration with social commerce, and its growing presence in business transactions, Venmo continues to shape the future of digital payments. As it rides the wave of technological evolution, Venmo is not just keeping up—it’s defining the industry standard.

Sources

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Barry Elad

Barry Elad is a dedicated tech and finance enthusiast, passionate about making technology and fintech concepts accessible to everyone. He specializes in collecting key statistics and breaking down complex information, focusing on the benefits that software and financial tools bring to everyday life. Figuring out how software works and sharing its value with users is his favorite pastime. When he's not analyzing apps or programs, Barry enjoys creating healthy recipes, practicing yoga, meditating, and spending time in nature with his child. His mission is to simplify finance and tech insights to help people make informed decisions.