For the past decade, Venmo has made it easier for people to pay friends and family, share their experiences, and shop. We’re excited to expand our product to allow businesses to directly pay consumers through Venmo Payouts.
Driven by strong demand and successful pilots from top consumer brands like Chipotle and PepsiCo, we’re introducing a product to allow businesses to connect with our user base through a simple API integration to pay out money. Instead of writing checks, businesses can use Venmo to transfer money through Venmo Payouts for things like rebates, rewards, and more.
To simplify the integration for businesses already using PayPal Payouts, we made Venmo Payouts compatible with the existing integration. Businesses can quickly facilitate payments to customers by simply designating which wallet - PayPal or Venmo - they would like to be paid out to. All the funding, reconciliation and reporting from the current PayPal integration will operate the same as it does today.
If you’re not already a PayPal customer, click here to sign up for a PayPal business account and get started with Venmo Payouts. Venmo Payouts will start to roll out over the next few weeks.