Venmo is set for a major redesign in the coming months, making it more useful, social, and easy to use. This is the app’s biggest update since 2021.
The timing coincides with PayPal’s restructuring, as it plans to spin Venmo off into a standalone business, a potential precursor to a sale. Stripe has shown interest in acquiring PayPal. In this context, the revamp seems more like preparation for a business transaction.
The redesign starts rolling out this week, adding features over the coming months, with full availability expected by fall.
Initially, users will see a revamped feed, featuring a broader array of visuals, larger images, and new responses like reactions and quick action buttons, such as “Pay Again” and “Say Thanks.” It’ll also offer personalized cashback offers and product suggestions.
Another new feature allows users to endorse local businesses via a “Give a Shoutout” button in the transaction feed.
Alexis Sowa, Venmo’s senior vice president and general manager, explained the focus on letting users endorse local businesses, emphasizing the desire expressed, especially by Gen Z, to support merchants they like.
Two new tabs, “Send” and “Money,” will be available soon. The Send feed displays frequently contacted users, making it easier to split bills and schedule payments. The Money tab helps manage expenses and access Teen Accounts and Crypto.
There’s also a new Rewards tab for limited-time offers and Venmo’s Stash program, offering up to 5% cash back when shopping with favorite brands, credited to the Venmo Mastercard Debit Card.
The redesign is based on user research, highlighting many features users didn’t know existed. The update aligns Venmo closer to younger users’ expectations, offering less of a utility tool and more of a social platform, similar to other apps like Verse and Daylight. The move suggests Venmo wants to appeal to a potential new owner interested in these social finance trends.