What Is Venmo? Buying a Venmo account can be a game-changer for many businesses and individuals. Understanding what Venmo is and how it works is crucial before making a purchase. This guide will delve into the essentials of Venmo, its features, and its benefits. Venmo is a digital wallet that lets users send and receive money with ease. It is a mobile payment service owned by PayPal. With Venmo, users can quickly transfer funds to friends, family, or businesses. They can do this using only a smartphone and an internet connection. Venmo is popular for its convenience and social features. Users can add notes, emojis, and likes to each transaction, making it fun and interactive.