Venmo has long been the best app to use when you’re splitting dinner with a friend or paying your share of the rent to your roommate. But parent company PayPal has just announced that you’ll soon be able to use your Venmo account to make purchases at more than two million US retailers, or everywhere PayPal is accepted.
You’ll see Venmo show up as a checkout option at thousands of retailers and you’ll be able to use your Venmo balance, linked cards, or your bank account in order to initiate the payment. In short, Venmo now works exactly like PayPal does if you’d rather use that service than PayPal itself.
More changes are on the way for Venmo users, too. In order to make itself more competitive with Square’s Cash app, Venmo users will soon be able to get instantly transfer their balance to their bank account for a fee of $0.25. Right now Venmo users have to wait a day for the transfer to complete. Venmo’s fees are a bit more competitive than Cash, which charges 1% to receive cash instantly.