The market share of Venmo in the United States was significantly higher than most other countries in the world. This according to estimates based on website tracking and the technologies used within them, focusing solely on Payment Acceptance and Payment Processing. Note that the percentages, especially, are estimates due to categorization. Nevertheless, it provides an insight in the high use of Venmo in the United States but also the importance of the mobile payment brand in, for example, Latin America. According to estimates, nearly four percent of merchants in Venezuela with at least one Payment Acceptance or Payment Processor technology up until February 2024 had Venmo on their website.
Number and share of merchants who use Venmo as a payment solution on their website across various countries and territories in the world as of February 28, 2024
Characteristic
Number of websites
Share of all websites that offer at least one payment acceptance or payment processor technology, excluding crypto and FX
Websites with a domain from said country that accept said payment method, and should not be confused with "Merchant acceptance rate" - which covers the share of payments that were processed succesfully; The numbers have been gathered and calculated by Statista, see the "Details" tab for more information.
Supplementary notes
This statistic is the result of research that tracks the use of "payment technology" across various websites found within certain countries. The source included seven categories in this:
Bitcoin, e.g. bitcoin traders such as Coingecko;
Checkout Buttons, e.g. Amazon Payments, Stripe, PayPal Button.;
Currency, e.g the option to pay in euros or Japanese yen;
Donation, e.g. Amazon Payments;
Pay Later, e.g. buy now, pay later solutions;
Payment Acceptance, e.g. Visa, PayPal, MasterCard, etc.
Payment Processor, e.g. Braintree, Amazon Payments, Stripe, etc.
The categories "Bitcoin" and "Currency", as well as "Checkout buttons" and"Donation" were excluded from this statistic. The first two did not match with Statista's definition of a payment technology, whereas the other two led to double entries for the likes of Amazon Payments. PayPal was not listed under "Pay Later", so this was excluded as well.
The source states it looks at "payment technology", without explicit clarification on what it means with that. This has some important repercussions:
Statista assumes the source qualifies this as payment processing or payment methods offered by fintechs - as bank transfer systems, such as the Netherlands' iDEAL or the international SWIFT system, were not mentioned;
The data concerns URL domains from within that country, but may not necessarily reflect companies originating from within the country. An example was the webshop of Armada Music, a dance music label headquartered in the Netherlands but whose URL was based in the United States;
Payment methods offered in certain countries can be aimed at foreign, cross-border, users. For instance, the source stated that certain U.S. URLs offered Bancontact - a payment method that originates from Belgium.
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Statista. (February 28, 2024). Number and share of merchants who use Venmo as a payment solution on their website across various countries and territories in the world as of February 28, 2024 [Graph]. In Statista. Retrieved December 06, 2024, from https://www.statista.com/statistics/1340301/venmo-use-among-merchants-in-the-world/
Statista. "Number and share of merchants who use Venmo as a payment solution on their website across various countries and territories in the world as of February 28, 2024." Chart. February 28, 2024. Statista. Accessed December 06, 2024. https://www.statista.com/statistics/1340301/venmo-use-among-merchants-in-the-world/
Statista. (2024). Number and share of merchants who use Venmo as a payment solution on their website across various countries and territories in the world as of February 28, 2024. Statista. Statista Inc.. Accessed: December 06, 2024. https://www.statista.com/statistics/1340301/venmo-use-among-merchants-in-the-world/
Statista. "Number and Share of Merchants Who Use Venmo as a Payment Solution on Their Website across Various Countries and Territories in The World as of February 28, 2024." Statista, Statista Inc., 28 Feb 2024, https://www.statista.com/statistics/1340301/venmo-use-among-merchants-in-the-world/
Statista, Number and share of merchants who use Venmo as a payment solution on their website across various countries and territories in the world as of February 28, 2024 Statista, https://www.statista.com/statistics/1340301/venmo-use-among-merchants-in-the-world/ (last visited December 06, 2024)
Number and share of merchants who use Venmo as a payment solution on their website across various countries and territories in the world as of February 28, 2024 [Graph], Statista, February 28, 2024. [Online]. Available: https://www.statista.com/statistics/1340301/venmo-use-among-merchants-in-the-world/