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Venmo Rolls Out Business Profiles

Good news for small sellers and sole proprietors: Venmo is giving small business a hand with its new Business Profiles feature. The money app designed to send and receive money amongst personal contacts is running a small pilot of the program.

Screenshots of the Venmo app

Business Profiles allows more casual sellers to accept payments for goods and services. The target market consists of artists, crafters, and those running side hustles. 

Currently, Business Profiles has no fees, but will later likely carry standard rates of about 2-3%, plus a per-transaction fee. Venmo says users will be able to toggle between their business and personal profiles, which means you’d still receive 100% of the $5.95 a friend sends you to cover her coffee during your last meetup.

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Written by:
Pamela Hazelton
Published on:
July 6, 2020
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See more in: AppsMore about: Ecommerce, payments, selling

About Pamela Hazelton

Avid writer. Business marketing and ecommerce. Contributing Editor to Practical Ecommerce & writer on Medium. // Reward yourself a little every day.
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