As of 2016, Venmo no longer provides APIs to new developers for its business integrations after discontinuing its API. Venmo API will remain closed until 2023.
The API will remain accessible to businesses that used it before its discontinuation, however.
The modern online service relies on several APIs in order to run. Developers and programmers can implement these APIs within their applications by using the services’ own APIs.
Venmo API Types
There are two APIs used by Venmo. Paylink API and Receipt API. Payment Links API allows invoices and suggested payments to be sent via any medium. Receiving receipt data and sending it to a third-party web service is made simple by the Receipts API.
It is still possible to access the Venmo API for existing users, but not for new ones. As stated in the Venmo statement, some features of the existing API may be removed, but not completely.
Pay With Venmo is a new system for paying businesses that want to push onto developers.
Is the Venmo API Still Active?
Venmo’s API was not destroyed as initially feared by developers. In April 2022, developers who already had access to the Venmo API are still able to use it.
In addition, you can find unofficial API documentation on websites like GitHub, even though the official API documentation has been taken down.
Venmo API Discontinuation
The API of Venmo was discontinued by the company in 2016. Also, Venmo said that new users won’t be allowed to use the API, but the API will remain available to existing users.
Venmo halted new API development to make way for a new, more innovative approach to integrating Venmo payments into businesses and stores. Users and developers will also benefit from this friendly experience, according to Venmo.
Developers were divided by this news. The traditional approach, which relies heavily on API requests, was preferred by many, who did not mind doing things more streamlined.
A lot of developers felt unsafe, even those who already had API access. The developers were assured that they could still access the API, but there were concerns about future updates and support from Venmo.
It’s understandable – imagine relying on a service that gradually fades into irrelevance while your product qualifies to use it.
Venmo’s public API can be used to exploit non-tech-savvy users who don’t have much knowledge of computing since payment details are public by default. Privacy settings can be easily changed, however.
How Does Venmo Connect to Bank Data?
Venmo could theoretically access your payment options directly through your bank APIs.
Bank APIs are notorious for their complex and outdated development methods, making this difficult to accomplish in practice.
In order for Venmo to link its API with external bank APIs, it uses the Plaid API.
Venmo developers, for example, might want to access bank information for users. As a result, they would need to identify the user’s bank, then read the documentation for the bank’s API and write the request.
Plaid, on the other hand, allows developers to directly request user information through its API documentation. Having only one API to learn simplifies the process for developers.
Developers who started using Venmo before 2016 can still access its API and documentation even though it’s been discontinued. These developers will also be able to access it through Venmo.
Because it’s easier for developers to learn one tidy and supported API than several cluttered and legacy APIs, Venmo will likely continue to use the Plaid API until banks can agree on a standardized API design.