Introducing Venmo Payouts
By Harshal Deo, Vice President of Commerce Solutions, PayPal
Driven by strong demand and successful pilots from top consumer brands like Chipotle and PepsiCo, we recently announced plans to introduce Venmo Payouts. Starting today, merchants can now connect with our Venmo user base through a single API to pay out money to 40 million digital wallets.
Merchants are already using PayPal Payouts to send payments to their consumers and sellers. Venmo Payouts opens yet another avenue for merchants to grow their business, enabling merchants to transfer money through Venmo Payouts for things like rebates, rewards, and more.
Anyone with a U.S. mobile number can receive a Venmo payment. If the recipient already has a Venmo account, the user receives a Venmo notification that they’ve been paid by a merchant. If the recipient doesn’t have a Venmo account, they get a text notifying them to sign up for Venmo to receive the payment.
Venmo Payouts works with PayPal’s Payouts API or Payouts Web integrations:
· If using the Payouts API, set the new recipient_wallet parameter to Venmo.
· If using Payouts Web, add a Recipient Wallet column to your payment file.
It’s that simple. Want documentation? We’ve got you covered.
If you haven’t used PayPal Payouts yet, sign up for a PayPal business account and get started.
