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Venmo is set to launch business profiles for SMBs

(Image credit: Shutterstock)

PayPal-owned mobile payments platform Venmo has announced a new service, tailored for small businesses. 

Business Profiles will allow business owners to create a distinct profile page, helping them to stand out with a more professional look, but also allowing them to separate private and professional transactions more easily.

According to the Venmo, business owners who opt to create a new profile will be able to share key business details such as address, phone number, email and website. The company believes sellers such as artist, DIY masters, hairdressers or florists stand to gain much from the new offering.

The new Business Profiles feature also allows a company to publicise transactions via a public newsfeed, in case you want to let everyone know how much you charge for mowing your neighbour's lawn.

Searching for businesses should also become a lot easier, as Venmo Search will now allow users to switch between private and professional accounts when searching.

Other features, such as transactional insights and customer lists will also be available, Venmo confirmed.

The feature is currently in pilot phase, with a “limited” number of iOS given the opportunity to take part in the test. An Android version is also in the works, which should be available “in the coming weeks”.

At launch, sellers will be able to access Business Profiles at no additional cost.