iPhone owners are about to have an even easier time paying with PayPal and Venmo, both in the real world and online, using their phones and Apple payment platforms. Show
iPhones will soon allow the PayPal and Venmo apps to Tap To Pay at participating US merchants, as announced in PayPal's third-quarter earnings report Thursday. Tap To Pay launched earlier this year as a way to make contactless payments using iPhones over NFC. It's only been usable at Apple Stores and using Square's merchant app, so adding popular alternative payment options makes it easier on consumers and shop owners, who don't need to buy additional hardware for the feature to work. If you're shopping online using PayPal's checkout flow, you'll also soon be able to select Apple Pay in addition to existing payment options. And next year, US customers will be able to add PayPal and Venmo network-branded credit and debit cards to Apple Wallet and use them anywhere Apple Pay is accepted. These new features are coming only to US merchants and US iPhone users, and it's unclear if it'll expand to other regions. PayPal didn't immediately respond to a request for comment.
Apple Pay has an estimated 500 million users worldwide, and Venmo has about 50 million users. Given the huge amount of people that use these products, it’s not surprising that folks would want to use these products together. Unfortunately, there is a lot of confusion and frustration around using Venmo with Apple Pay because when you try to add one’s card to the other’s app, you get an error message. Here is the unfortunate truth: Venmo (owned by Paypal) and Apple are major competitors in the digital currency exchange market, so they do not get along with each other and consumers are stuck in the middle of their messy feud. If you are asking “Why can’t I add my Apple Card to Venmo?” or “Why can’t I transfer money from Venmo to Apple Pay?”, the answer is: because Venmo and Apple are blocking each other’s products from their platforms. No, you cannot directly transfer money from Venmo to Apple Pay. Venmo will not allow you to add Apple Pay as a bank. However, yes, you can indirectly transfer money from Venmo to Apple Pay. You just need to use any traditional bank as the in-between party (hopefully you have a traditional bank account somewhere else). The high-level steps are:
Continue reading for step-by-step instructions on accomplishing the above. If you can get both products to accept instant transfers with your traditional bank, then this is a reasonably efficient work-around. Related: How to Add Money to Venmo with a Prepaid Card Step-by-Step Instructions for How to Transfer Money From Venmo to Apple PayApple provides a very long list of banks that Apple Pay supports, however, Paypal/Venmo are not on the list. Thus, you cannot directly add Apple Pay as a bank or card inside the Venmo app. Hopefully, you have a traditional bank account somewhere else. You will need to use that bank as a middle person to work around the Venmo-Apple feud. Step #1A) Instant Transfer: Add any supported debit card to Apple PayLet’s first try to add a debit card because that should allow you to make instant transfers:
Step #1B) 3-Day Transfer: Add any supported bank to Apple PayIf the instant transfer via debit card did not work, then you may have to transfer money via the bank transfer, which may take 1-3 business days:
Step #2A) Instant Transfer: Add the same debit card to VenmoYou now need to add the same debit card or bank to the Venmo app. We’ll first try to add the debit card to Venmo so we can have an Instant Transfer
Step #2B) 3-Day Transfer: Add the same bank to VenmoIf the instant transfer via debit card did not work, then you may have to transfer money via the bank, which may take 1-3 business days:
Step #3) Transfer Desired Money from Venmo to Your Traditional BankYou now have a traditional bank added to both Apple Pay and Venmo. You have sent $1 back and forth to test the connections are working. So now log into Venmo and send the desired money from Venmo over to your traditional bank. Hopefully, the Instant Transfer option works for you, otherwise, you will have to wait 1-3 business days.
Step #4) Transfer Desired Money from Traditional Bank to Your Apple PayYou now have the money sitting in your traditional bank account. Log into Apple Pay and transfer the money from your traditional bank over to Apple Pay. Hopefully, the Instant Transfer option works for you, otherwise, you will have to wait 1-3 business days.
And that’s it. Hopefully, one day, Venmo and Apple will cooperate better for the sake of consumers. Related: How to Get Money from Venmo Without a Bank Account Can You Use Apple Card on Venmo?No, when you try to add your Apple Card to your Venmo app, Venmo will give you an error. Venmo (owned by Paypal) and Apple consider each other major competitors in the digital currency exchange market, so they do not get along with each other. And consumers are stuck in the middle of their messy feud. Venmo wants you to use their touch-free retail payment system, so they don’t cooperate with Apple. Hopefully, one day, Venmo and Apple will cooperate better for the sake of consumers. Related: Does McDonald’s Take Apple Pay? Can You Add Venmo Debit Card to Apple Pay?No, when you try to add your Venmo Card to your Apple Pay app, Apple will give you an error. From the Venmo website: You can add your Venmo Credit Card to virtual wallets like Samsung Pay and Google Pay™. Apple Pay® does not allow users to add their Venmo Credit Card. If you have any questions about adding your card, please reach out to the specific virtual wallet provider. Venmo (owned by Paypal) and Apple consider each other major competitors in the digital currency exchange market, so they do not get along with each other. And consumers are stuck in the middle of their messy feud. Apple wants you to use their Apple Pay, so they don’t cooperate with Venmo. Hopefully, one day, Venmo and Apple will cooperate better for the sake of consumers. Related: How to Connect Chime Bank to Zelle |