SAN JOSE, Calif.--(BUSINESS WIRE)--Starting this week, Venmo customers can shop on their mobile phone and make purchases at more than two million U.S. retailers via the mobile web. Venmo customers can now more easily split online purchases among friends and share payments on the Venmo feed, making it easier than ever to celebrate group experiences and remove the awkwardness that comes with cash or checks.

Just in time for the holiday season, Venmo customers can shop at millions of merchants that accept PayPal - such as Lululemon, Forever 21, and Foot Locker - using their Venmo balance or linked credit card, debit card, or bank account. At launch, Venmo customers will receive a notification in their Venmo app inviting them shop. Eligible purchases made with Venmo qualify for purchase protection, which may provide a full refund if customers don’t receive an item or it’s significantly different than the description.

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“Offering a way to pay at millions of retailers is a major step in the evolution of Venmo,” said Bill Ready, Chief Operating Officer of PayPal. “Our vision for Venmo is to not only be the go-to app for payments between friends, but also a ubiquitous digital wallet that helps consumers spend wherever and however they want to pay, regardless of device. Through 2017 and beyond, we will continue to evolve the payments experience that has helped make Venmo a cultural staple, while also applying that same magic to split, share and pay in new ways.”

To celebrate Venmo's place in today's culture, Venmo revealed this week a new brand campaign, dubbed “_______ Me,” which celebrates Venmo’s status as a household name and reminds everyone that payments can be fun. “_______ Me” takes an irreverent approach to everyday moments in which people use Venmo. The multi-platform campaign, which runs through the end of the year, includes digital, experiential, and outdoor advertising. The new campaign was created in partnership with Zambezi and Noble People.

In addition, to provide more options to easily manage and move money, Venmo customers will soon be able to instantly transfer money from Venmo to their bank accounts via eligible debit cards, providing access to funds faster than ever before for just $0.25 per transfer. Funds will typically be available in a customer’s bank account in a matter of seconds, although some banks may take up to 30 minutes. The new option will be available to all Venmo users over the coming months. Funds in a customer’s balance are immediately available to use when shopping with Venmo, and as always, there is no charge to transfer funds directly to a customer’s bank account through the original bank transfer functionality.

Businesses can now offer Venmo as a mobile payment option through the PayPal and Braintree platforms. To learn more, visit www.venmo.com/business.

About Venmo

Venmo, a service of PayPal, Inc., is a leading mobile app in the U.S. used to move money between friends and family and pay at select businesses. Venmo makes payment a fun, social experience that eliminates the awkwardness that comes with cash or checks. For more information, visit https://www.venmo.com.

About PayPal

Fueled by a fundamental belief that having access to financial services creates opportunity, PayPal (Nasdaq: PYPL) is committed to democratizing financial services and empowering people and businesses to join and thrive in the global economy. Our open digital payments platform gives PayPal's 210 million active account holders the confidence to connect and transact in new and powerful ways, whether they are online, on a mobile device, in an app, or in person. Through a combination of technological innovation and strategic partnerships, PayPal creates better ways to manage and move money, and offers choice and flexibility when sending payments, paying or getting paid. Available in more than 200 markets around the world, the PayPal platform, including Braintree, Venmo and Xoom, enables consumers and merchants to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in their PayPal accounts in 25 currencies. For more information on PayPal, visit https://www.paypal.com/about. For PayPal financial information, visit https://investor.paypal-corp.com.

Venmo PayPal represents an act of diversification from the world’s best-known eWallet provider. Here, the intention is to explore how it works and what the benefits might be.

Making Venmo Payments Online

Venmo was receiving a gradual roll out in North American during late 2017. For new adopters, there are still key issues such as where is Venmo accepted / who takes it. The focus is very much on mainstream retailers, so don’t except to be gambling with Venmo in the near future – just stick with PayPal casino deposits for now.

What is Venmo?

In explaining Venmo, it is essentially a new eWallet that can connect with PayPal, debit/credit cards, or bank accounts. Of course, there are other considerations relating to what exactly this is.

P2P Payments

Venmo offers the capability for completing person-to-person payments in a more streamlined way than PayPal. Through the Venmo mobile app, users shall be able to complete P2P / peer-to-peer payments. These can be for personal transactions between friends or else to split bills in cafés and restaurants.

How it Works

Now that the basics have been explained, it is worth seeing how to get started and whether the process differs greatly next to PayPal and other eWallets:

1. Create an account: A new user can visit the Venmo site and create an account through signing up via PayPal or submitting their email address.
2. Download the Venmo app: Venmo has created apps that are downloadable through the App Store or Google Play.
3. Add a payment method: After setting up the account, you then need to verify your bank account or credit/debit card through completing a micro transaction.

Where is Venmo Accepted?

As of late 2017, Venmo can only be used by US residents, who must also have a US cell phone number. In addition, users must also hold a valid US bank account. There is currently no word on whether Venmo shall be opened to UK / international / countries anytime soon, but there is already stiff competition waiting.

What Are the UK Venmo Alternative?

The UK does not currently have access to Venmo, but there are already alternatives that Venmo will have to contend with if the eWallet does enter the marketplace:

• • Paym: Users have the ability to make mobile bank transfers without having to enter an account number of sort code. All that will be required is the person’s mobile phone number.

• • Circle: eWallets can come with frees from using payment methods to fund them, but Circle is a mobile app promising to send money like a text message and without frustrating fees being added on.

• Verse: The Verse mobile app is available now via the App Store and Google Play. Those who install Verse shall have the power to make instant mobile payments in the same timeframe as sending a text.

Gambling Sites That Accept Venmo

Venmo highlights how digital payment providers are constantly trying to evolve the process to become more efficient, but there is no telling whether or not this will ever be suitable for online gambling.