With over 52 million users, Venmo is an extremely popular payment solution based in the United States that allows individuals to send and receive money for things like splitting the tab for a meal or rent. Sending (or requesting) peer-to-peer payment transfers has become the convenient way to pay people back for money owed (or collect from people that owe you).
In fact, with features like auto-reminders, bill-splitting, QR code scanners, etc, apps like Venmo offer people multiple ways to request, send, and track payments.
Due to Venmo’s popularity in the U.S., many Canadians often wonder if Venmo is available in Canada?
Unfortunately, Venmo is not available in Canada. But there is another payment service option available to Canadians, Verto.
(Image credit: Venmo)
What is Venmo?
Venmo is an app that allows users to send peer-to-peer payments, founded in 2009.
People use Venmo for splitting bills such as rent, or dinner. Typically people make smaller cash transfers using the Venmo app.
A Venmo account is linked to a bank account or credit card which allows you to fund the balance in your Venmo account, similar to PayPal.
Venmo doesn’t charge its users any monthly or annual fees, nor does it charge you any fees for sending or receiving money. It also doesn’t charge you anything for funding your Venmo account from your linked bank account.
Is Venmo available in Canada?
Venmo is not available in Canada. In order to use Venmo, individuals need to be located in the United States. You will also need a U.S. phone number.
Are there alternatives for Venmo in Canada?
Yes! Canadians looking for payment services in Canada can use Verto – a Vancouver based payment solution. Verto securely links to Canadian banks and credit unions and is an ideal solution for Canadians who are looking to pay and get paid, easily and securely.
Verto is more than just a 1:1 peer-to-peer payment solution, it also offers features that provide payment solutions to groups, service providers, and businesses alike.
Why do People in Canada Choose Verto to Pay and Get Paid?
Here are some reasons why Verto is a great payment solution for Canadians:
1. Zero Fees – Verto doesn’t charge any monthly fees or transaction fees
2. More Options – Flexible payment options, from bill splitting, scheduled/recurring payments, and QR codes
3. Secure – Best-in-class encryption protocols
4. Instant – With Verto, e-transfers move instantly
5. Quickly get started – signing up for a Verto account takes only a few minutes, no excruciatingly long sign up process! To send payments, all you need is someone’s phone number or $VertoTag
What are some use cases for Verto?
People in Canada use Verto for splitting bills among friends, paying and collecting membership dues for sports leagues, paying their landlord for rent, collecting fees from customers, and much more.
Below are some use cases where you can request or collect fees from people or groups for various purposes.
And so many more!
The faster, easier, more secure way to transfer cash in Canada.
Verto is offered by Agentis Payments Ltd – a FINTRAC registered money services business.
👋 hello@vertopay.com
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