Personal Finance · head to head
Apple Pay vs Venmo
The short version
- Each has a real cost: Apple Pay apple Pay works only in countries and regions that support contactless payments and is not available in all markets; Venmo instant transfer costs 1.75 percent with a minimum fee of 0.25 USD and a maximum of 25 USD, while the free standard transfer takes 1 to 3 business days
- They diverge on capability: Apple Pay covers Digital wallet, Venmo covers Money transfers.
Where they differ
Only the attributes on which Apple Pay and Venmo actually diverge.
Identical on both: starting price (Free), pricing model (free), free tier (Yes), user rating (Not yet rated), category (Personal Finance).
What each one covers
Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.
Only in Apple Pay
- Digital wallet
- Secure payments
- Contactless transactions
- P2P money transfers
- Credit cards
- WatchOS support
- MacOS support
Only in Venmo
- Money transfers
- Bill splitting
- Social feed
- Transaction history
- Web support
- Android support
Both cover
- Debit cards
- Bank accounts
- IOS support
What people use each for
The jobs each tool is most often brought in to do.
Apple Pay
- Contactless in store payment from iPhone and Apple Watchnot Venmo
- Paying in apps and on the web without entering card detailsnot Venmo
- Sending money between Apple users with Apple Cash and Tap to Cashnot Venmo
Venmo
- Splitting bills and reimbursing friends in the United Statesnot Apple Pay
- Accepting payments through a Venmo business profilenot Apple Pay
- Buying and holding cryptocurrency inside the payments appnot Apple Pay
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Apple Pay
- Apple Pay works only in countries and regions that support contactless payments and is not available in all markets
- Apple Cash is available only in the 50 United States, the District of Columbia and Puerto Rico
- Apple Cash Family accounts and Tap to Cash transactions are each capped at 2000 USD within a rolling seven day period
- Mac support requires a Touch ID equipped model
- A card works only if the issuing bank supports Apple Pay, and banks may charge their own overseas usage fees
Venmo
- Instant transfer costs 1.75 percent with a minimum fee of 0.25 USD and a maximum of 25 USD, while the free standard transfer takes 1 to 3 business days
- Sending money funded by a credit card carries a 3.00 percent fee
- Cryptocurrency fees are tiered by trade size, from 2.20 percent on purchases of 1.00 to 74.99 USD down to 1.50 percent above 1,000 USD
- Business profile payments cost 1.9 percent plus 0.10 USD, and Tap to Pay costs 2.29 percent plus 0.09 USD
Pricing, plan by plan
Apple Pay
Free- FreeFree
- Secure payments
- P2P transfers
- Transit passes
Venmo
Free- FreeFree
- P2P transfers
- Bill splitting
- Mobile app
Which should you pick?
Choose Apple Pay if
- You need digital wallet.
- You want to start without paying.
- You work on IOS, WatchOS, MacOS.
- You also want secure payments.
Choose Venmo if
- You need money transfers.
- You want to start without paying.
- You work on Web, IOS, Android.
- You also want bill splitting.
Questions people ask
- Is Apple Pay or Venmo better?
- Neither clearly leads. Apple Pay starts at Free and Venmo at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Apple Pay or Venmo?
- Apple Pay starts at Free and Venmo at Free.
- Does Apple Pay or Venmo run on more platforms?
- Apple Pay runs on IOS, WatchOS, MacOS. Venmo runs on Web, IOS, Android.
- Can I use Apple Pay for free?
- Both have a free tier, so you can try either at no cost before committing.
- What is Apple Pay best used for?
- Apple Pay is most often used for contactless in store payment from iphone and apple watch, paying in apps and on the web without entering card details, sending money between apple users with apple cash and tap to cash. Of those, contactless in store payment from iphone and apple watch and paying in apps and on the web without entering card details are not what Venmo is typically brought in for.
- What can Apple Pay do that Venmo cannot?
- Apple Pay covers Digital wallet, Secure payments, Contactless transactions, P2P money transfers. Venmo covers Money transfers, Bill splitting, Social feed, Transaction history. Both handle Debit cards, Bank accounts, IOS support.