Using Venmo to buy tickets from individuals can be convenient, but also comes with some risks. Venmo is a popular peer-to-peer payment app owned by PayPal that allows users to quickly transfer money between accounts. It has become increasingly common for people to use Venmo to pay for event tickets, travel, and other expenses. However, there are a few things to keep in mind when using Venmo for these types of transactions.
In this article, we’ll explore the pros and cons of using Venmo to buy tickets, look at steps you can take to reduce your risk, and examine some alternative payment options. By the end, you’ll have a better understanding of whether Venmo is a safe choice for purchasing tickets from individuals.
The Appeal of Using Venmo for Tickets
There are a few key reasons why using Venmo to buy tickets has become so popular:
Convenience
Venmo makes it incredibly easy to quickly send and receive payments. Both the buyer and seller need a Venmo account, but once set up, transfers happen instantly. There’s no need to exchange cash or personal checks. It’s often quicker than using other peer-to-peer payment apps. This makes Venmo a very convenient choice for everyday transactions like buying tickets.
Wide Use
Venmo is one of the most widely used peer-to-peer payment apps, especially among younger demographics. According to a 2021 statista survey, 69% of Venmo users are under the age of 35. This makes it very likely that the person selling a ticket will already have an account set up. The widespread use makes Venmo a natural choice for both parties.
Purchase Protection
Venmo payments come with some built-in protection features. Like PayPal, Venmo offers dispute resolution and purchase protection for eligible purchases. For example, if the tickets you purchased were fraudulent or misrepresented, you can file a dispute with Venmo to potentially get your money back. This gives buyers some peace of mind.
Less Cash to Carry
Using Venmo means you don’t need to take out cash from the ATM to complete the ticket purchase. You can pay safely right from your phone instead. This adds security and convenience.
Easy Recordkeeping
The Venmo app provides an instant record of all your transactions. Rather than keeping paper tickets or receipts, you can see a digital history of the purchase right in the app. This can make recordkeeping and taxes easier.
Risks of Using Venmo for Tickets
However, there are also some definite risks to keep in mind when using Venmo to buy tickets:
No Buyer Protection for Tangible Goods
Venmo’s purchase protection does not apply to tangible goods and services, only intangible digital goods and services. This means that if the ticket seller never delivers or misrepresents the tickets, Venmo will likely not refund your money if you file a dispute. You’ll have no recourse.
Potential for Fraud
There’s always a risk of fraud when buying tickets from strangers online. Scammers frequently sell fake or non-existent tickets. And they often prefer payment methods like Venmo where there is no buyer protection. There’s no way to 100% verify the validity of tickets being sold over Venmo.
Harder to Verify Seller
Unlike ticket resale marketplaces like StubHub that have seller profiles and reviews, all you get with Venmo is a name and photo (which may not even be real). This makes it much harder to verify you’re dealing with a legitimate seller.
No Support Resolving Issues
If the ticket purchase goes south, you’ll largely be on your own trying to resolve it. Venmo isn’t designed to handle mediating ticket sale disputes. At best, you can leave a negative comment on the user’s profile page warning others. But you won’t get your money back.
May Violate Ticket Terms
Many event tickets have terms and conditions that prohibit reselling them through unauthorized third-party transactions. Purchasing tickets via Venmo could violate these terms and put your ticket purchase at risk of being invalidated.
Tips for Safer Venmo Ticket Purchases
If you decide to use Venmo to buy tickets, here are some tips to reduce your risk:
Only Buy from Trusted Sources
Try to only purchase tickets from people you know and trust who can vouch for the validity of the tickets. Avoid buying from strangers where you have no way to verify reputation.
Ask for Proof of Purchase
Ask the seller to provide a copy of their original ticket receipt or proof they owned the tickets. While not foolproof, this extra verification helps.
Use Payment Notes
When sending a Venmo payment, use the payment note field to specify you are purchasing specific tickets from the seller. This creates a record you can reference if any issues arise later.
Ask Detailed Questions
Don’t hesitate to ask the seller plenty of questions to screen them and understand the details of the tickets. A legitimate seller will readily provide seat numbers, original purchase price, etc.
See Tickets Before Paying
Try to arrange to physically see the tickets before completing the Venmo payment whenever possible. This guarantees the seller possesses real tickets.
Inspect Tickets Carefully
When you receive the tickets, thoroughly inspect them for any signs of tampering or fabrication. Make sure all the details match what you discussed with the seller.
Pay with a Credit Card
Link a credit card to your Venmo account rather than a bank account or debit card. This will provide some fraud protection and potential ability to chargeback if necessary.
Venmo vs. Other Payment Methods for Tickets
Rather than using Venmo, there are some other payment methods that may be safer choices when buying tickets:
Authorized Ticket Resale Marketplaces
Purchasing tickets through authorized resale marketplaces like StubHub provides much more fraud protection and support if issues arise. Sellers are verified and you can view their reviews. However, convenience is lower and fees are higher.
| Payment Method | Safety | Convenience | Fees |
|---|---|---|---|
| Authorized Resale Marketplaces | High | Medium | High |
PayPal Goods & Services
PayPal offers strong buyer protection when using their Goods & Services payment option for physical item purchases. You pay a bit more in fees but have recourse if you don’t receive the tickets.
| Payment Method | Safety | Convenience | Fees |
|---|---|---|---|
| PayPal Goods & Services | High | Medium | Low |
Buy In-Person with Cash
To eliminate fraud risk, arrange to meet up and complete the ticket purchase in-person with cash. This ensures you receive valid tickets on the spot, but is highly inconvenient.
| Payment Method | Safety | Convenience | Fees |
|---|---|---|---|
| In-Person Cash | High | Low | None |
Conclusion
While using Venmo for buying tickets is certainly convenient and popular, it does come with a fair amount of risk with no recourse if you get scammed or receive fraudulent tickets. To stay safe, only use Venmo to purchase tickets from people you know and trust. For selling to strangers, authorized resale platforms or PayPal will provide much stronger buyer protections. Consider all your options before choosing a payment method to ensure you can purchase tickets safely.
