Venmo is preparing to roll out a significant redesign aimed at enhancing user experience and social interaction within the app. This update marks Venmo’s largest refresh since 2021.
The redesign coincides with PayPal’s restructuring efforts to spin off Venmo into a stand-alone business unit, likely in anticipation of a potential sale. Reports indicate that Stripe has shown interest in acquiring PayPal entirely. The timing of the redesign suggests that it is part of a strategic move to add value ahead of any potential transaction.
The rollout will begin this week, with additional features planned over the coming months. Complete access to the redesigned app is expected for all users by fall 2023.
Among the first changes is an updated feed, which will replace the previous simple list of transactions. The new feed will showcase a variety of visuals and larger images. Users will gain more interaction options, such as reaction buttons and quick actions like “Pay Again” and “Say Thanks.” This revised feed will also present personalized cashback offers and product suggestions based on user purchase history.
Additionally, users will be able to support local businesses directly through a new “Give a Shoutout” button, which will appear under payments in the feed. Alexis Sowa, Venmo’s senior vice president and general manager, stated, “One of the things that we hear a lot, especially from Gen Z and younger audiences, is a real desire to support and endorse local businesses.”
Two new tabs, labeled “Send” and “Money,” will be introduced in the coming months. The Send feed will feature frequent contacts displayed as a row of profile icons for quicker access, enhancing the bill-splitting “Groups” feature for up to 30 people. Users can also send gifts and schedule payments in this section.
The Money tab will facilitate expense management and will offer access to Teen Accounts and Cryptocurrency options. A new Rewards tab will compile limited-time offers, incorporating Venmo’s Stash program, which provides users with up to 5% cash back at select brands.
Sowa noted that the redesign stemmed from a year of user research, highlighting how many existing features users remain unaware of within the app. The update responds to a trend in which younger users increasingly expect payment apps to function as social platforms rather than mere utility tools.
This expectation reflects a broader shift among financial applications, where platforms like Verse and Daylight enable users to monitor friends’ spending activities, and companies like Revolut offer features such as group bill splitting and in-app chats.
As Venmo’s key demographic desires greater visibility and sharing of financial activities akin to social media platforms, the app is adapting to meet these expectations before any potential ownership changes.
