Small Businesses Rely on Social Payment Apps for Touch-Free Purchasing
Consumers across the San Francisco Bay Area are reprioritizing their relationships with local businesses. People have formed a mutual appreciation society as together they adapt to the new rules of shopping. Touch-free payments remain at the forefront of these shopping trends, an opportunity for business owners to create a safer environment that is also more efficient for both parties.
The Venmo app makes it incredibly easy for local business owners to accept touch-free payments. In the new year, in-person shoppers can scan Venmo QR codes, using their smartphone app or a printed QR code display, and pay for purchases with Venmo. In these challenging times, small business owners who provide contactless purchasing will be the most successful in rebuilding their customer base, especially with social payment apps that let customers share with their friends where they’re shopping. Business owners simply open the Venmo app, create a business profile, and generate a QR code to display for consumers.
Venmo business profiles provide individual sellers and small business owners access to 65 million highly engaged and social Venmo customers, as transactions have the potential to reach millions
of other consumers if customers choose to share their purchase on their Venmo social feed. Because customers use the Venmo app to scan QR codes, the touch-free purchase is as quick as
it is secure. To further facilitate Venmo payments and help businesses get back on their feet,
Venmo is waiving seller transaction fees until April 1, 2021*.
Venmo QR codes provide solopreneurs and small business owners from Noe Valley to Berkeley’s Fourth Street with a convenient and safe method to accept consumer payments. Most consumers are already familiar with QR codes, having scanned them for information that ranges from menu items to exhibit information at museums. Paying with Venmo QR codes is just as straightforward.
At the point of sale, customers open their Venmo app on their smart device, scan the code,
and press pay to send the payment. Customers can also show their personal QR code to be scanned to complete a transaction. The entire transaction is just a few simple steps, allowing for limited customer queues and customer presence within the store, helping to increase traffic
As of last fall, roughly one out of every 100 businesses in the Bay Area had closed since March 2020, according to an article in The Mercury News. The importance of safe shopping remains paramount to a business’s success. A business owner’s ability to adapt to new norms is a key to remaining open. Many small businesses have found Venmo payments to be an excellent resource at a time when every facet of their enterprise can feel challenging.
*Cancel anytime. Fees subject to change. Other fees may apply.
After setting up their Venmo business profile, business owners can easily create and print their custom QR code to post at the point of sale. There is no special equipment required, only a smart device or website visit to generate the QR code. Venmo is also planning on rolling out customizable QR kit bundles to help business owners market more effectively. The entire transaction from start to finish requires no physical contact and no transfer of personal financial information. QR codes have been used by businesses for many years, but it sets up especially well for shopping during the COVID-19 pandemic when personal space is at a premium.
“When you’re sending a payment, your customers can enter an emoji or even choose from thousands of animated stickers,” says the Soulful Succulents proprietor. “It’s just a quick, easy way to make payments fun when shopping. So it’s been really good for my business.”
Venmo was developed to give customers a way to split and share digital peer-to-peer transactions and payments with friends on Venmo, so it makes perfect sense that it’s now being used as a touch-free payment solution for small businesses. With the introduction of business profiles, the company is increasing its commitment to individual sellers and small businesses and working to help bring back main street. This environment will serve as a direct line to 65 million Venmo customers. Given the high social engagement of Venmo customers, there’s no doubt this engagement can only continue to grow.
I didn’t have to swipe a card or get numbers. It was just a quick scan and then the payment was made. It’s been excellent with COVID because so many customers want
to shop at businesses that have no contact payments.
So, with the code, it’s safe and easy.
— Mariza Aguirre, Owner of Soulful Succulents.
A recent study of Venmo customers indicates a shift in their shopping habits.
of Venmo customers have purchased at least one item online over the past 6 months. These purchases span the entire online marketplace, from food /drink delivery to electronics.
of customers are interested in using Venmo to pay with merchants as well.
Naturally, Venmo customers are also very social.
of them reported spending more time on social media since the pandemic began and most expect their current usage level of social platforms
to continue over the next six months.
Venmo customers help spread the word about local shops and other businesses. Customers use the Venmo social feed
to share their purchases with friends
in their networks. Friends often discover
a specialty store they didn't know existed, a cookbook shop perhaps, or a store selling handblown ornaments. Independent shop owners across the greater San Francisco metro area swiftly adopted new shopping protocols during the pandemic, limiting the number of people inside and creating a socially-distanced purchasing queue. The touch-free transactions via business-specific QR codes fit seamlessly within this new shopping reality.
People are all negotiating new lifestyle strategies at the moment as COVID-19 influences how they go about their day from dining to exercise to their daily purchases. Business owners have worked tirelessly to make shopping experiences comfortable and safe. Touch-free purchasing using QR codes is one trend that mutually benefits shoppers and consumers. Businesses that create a business profile and use the Venmo app for their transactions also benefit from Venmo’s broad social network, an opportunity to take payments and let millions and millions know about
it at the same time. Learn more about how business profiles and using QR codes to pay with Venmo can benefit your business and help keep the customers flowing in the door and online.
Sign up for Venmo business profiles here or by tapping your profile picture in the app.
You can also find more information about how it can help you grow your business by following Venmo on Instagram, Facebook or Twitter for updates.