Costco, renowned for its wholesale offerings and extensive range of products, is a favourite among savvy shoppers looking to save money on bulk purchases. With over 2600 stores across the US, it is natural that the retailer offers a variety of payment methods to serve different customers. If you are into mobile payment options, you must question: Does Costco accept Venmo? Whether you’re a devoted Costco member eager to discover new payment avenues or an intrigued Venmo user, you will find the answer below!
Costco does not allow its members to use Venmo as a payment method at the store or for online purchases. Owing to the exclusive contract with Visa, shoppers cannot make the payment using cards from any network for items bought in-store. However, Discover and MasterCard can be used to make payments for orders online and through the Costco app. Apart from Venmo, Costco offers a variety of payment methods, such as cash, debit cards and digital wallet such as Samsung Pay.
Can I Use Venmo at Costco?
You cannot use Venmo as a form of payment when shopping at Costco. Venmo is primarily a peer-to-peer payment platform, and, despite its growing popularity, it still needs to be integrated into Costco’s payment systems.
The big-box retailer offers a variety of payment methods, but there are other options than Venmo.
However, if you rely only on Venmo for payments, you might have to choose another retail store that accepts this payment method. At Costco, members and non-members can shop for various products, including food, fresh produce, etc.
To pay for the products you purchase, opting for different payment methods that the store offers is imperative. These incorporate PIN-based debit cards, Visa, Costco Shop Cards, and the Costco Anywhere Visa® Card by Citi.
Reasons Why Costco Does Not Accept Venmo
Digital Wallet: Venmo is a peer-to-peer wallet designed to transfer money quickly among family and friends. It is a method of paying for personal payments and is not feasible for a wholesale store like Costco.
Payment Method Fees: The transaction fees associated with Venmo might be why Costco doesn’t utilize this method. Costco’s business model focuses on offering competitive prices to members, which is why paying a transaction fee might be challenging. It will only add some additional costs.
Links with PayPal: Costco has collaborated with Visa and is contracted with the company. This contract prohibits them from dealing with other payment networks like Venmo.
Tax record: Payment methods like Venmo are generally utilized by small businesses. Given that this form of payment does not have tax records, this can be problematic for a big retailer like Costco. As a result, each transaction will have to be tracked individually. This is impossible for a large store like Costco and is time-consuming.
Can I Use a Venmo Debit Card At Costco?
No, Costco does not allow using Venmo or related services such as the Venmo Debit Card.
This Debit Card is a physical card linked to a user’s Venmo account balance.
The wholesale store is prohibited from accepting other payment methods because of its exclusive contract with Visa. Due to this reason, Costco does not allow the use of Venmo Debit Cards. Customers who regularly shop at Costco can only use a Visa debit card.
Can I Pay with My Venmo MasterCard Debit at Costco?
If you have a MasterCard Debit, you must find another method to pay for your purchases at Costco. The retail store does not allow customers to pay with Venmo MasterCard Debit.
Costco’s exclusive contract with Visa prohibits them from accepting payment through debit or credit cards from other payment networks.
Purchases made at the warehouse can only be paid with the Visa network. MasterCard is a separate payment network that has no connections with Visa. Consequently, customers cannot utilize Venmo MasterCard service to pay for their purchases at Costco. However, there are numerous methods of paying at Costco.
As of May 2023, customers can pay for purchases made through Costco.com and Costco app using MasterCard credit cards and Discover.
Does Costco Accept Credit Cards?
Customers will notice that Costco only accepts Visa-branded credit cards when shopping at the warehouse. Costco does accept Credit cards when making purchases at the warehouse.
These incorporate all types of cards that are Visa branded. Typically, the Costco Anywhere® Visa Card by Citi is an excellent choice for shopping at the warehouse. Additionally, if you make bulk purchases to meet the needs of your business, then use the Costco Anywhere® Visa Business Card by Citi.
One of the best Visa cards is the Costco Credit Card, which can be used to pay for purchases at warehouse locations. To utilize this credit card, shoppers must have a Costco membership.
Getting the membership also comes with various discounts and benefits, making $60 a worthwhile investment. However, if you are not a regular shopper at Costco and are not interested in spending $60 on a membership, you can always use a Visa card to make the purchases.
Does Costco Accept Visa Credit Cards?
Whether you are a regular shopper at Costco’s warehouse or gas station or love purchasing through the app, you can pay using Visa Credit Cards.
Costco accepts payments from all Visa-branded credit cards because of its exclusive partnership with the network.
Using Visa Credit Cards at Costco will also give you excellent benefits, one of the most prominent ways to purchase at the store. Customers can use the Costco Anywhere® Visa Card by Citi to receive 4% cash back on gas for the first $7000 per annum.
You can also get the same percentage of cash back on travel and restaurants (unlimited). Purchases from the Costco warehouse and online can get you 2% cash back.
Similarly, the Costco Anywhere® Visa Business Card by Citi aims to empower small businesses as it offers a variety of benefits. Anywhere and Business card has the same percentage for cashback but serves a different target audience.
Other popular cards accepted at Costco are Chase Sapphire Reserve Card, Chase Sapphire Preferred Credit Card and Wells Fargo Cash Wise Visa Card.
Does Costco Accept Cash?
Yes, Costco warehouses accept cash for purchases. Like other retailers, cash is the store’s most prominent method of payment. However, it would help if you remember that cash payments can only be made at the warehouse.
It is better to opt for cash payments when you do not have a credit or debit card accepted at Costco. There might be better options in certain situations than applying for a Visa card to purchase at Costco.
You can use a debit card or cash in such situations. Moreover, using money to make payments lets you keep tabs on your purchases and prevents impulse purchases.
If you plan to spend a debt-free lifestyle, paying with cash is a good option. Even though Costco offers a wide range of benefits when you use a Visa card, it is best to avoid adding more expenses if you already have a lot of debt.
Customers who intend to boost their credit score should also opt for cash payments at Costco. Having a high credit score has numerous advantages. For instance, you can quickly get a loan.
Venmo Alternatives at Costco
If Venmo is your preferred method of payment, and you’re disappointed that it’s not accepted at Costco, don’t worry; there are alternative payment options accessible:
Costco Anywhere Visa Card: Costco has its co-branded credit card, the Costco Anywhere Visa Card, issued by Citi. It offers attractive cashback rewards on Costco purchases and other spending categories. This fantastic payment method can be used to shop at the warehouse.
Digital Wallets: Three digital wallets have partnered with Costco and can be used to make purchases at the store. Google, Samsung and Apple Pay make it convenient for shoppers who prefer to avoid carrying cards and cash.
Cash and Checks: You can pay with cash or personal checks at Costco warehouses.
List of Stores That Accept Venmo
The pandemic introduced the world to contactless and cashless payment methods. Due to the increased demand for such services, techniques such as Venmo have emerged and are gaining popularity.
While Costco does not accept Venmo, many other retailers and online platforms do. These include:
- Abercrombie & Fitch
- Forever 21
- Urban Outfitters
- Foot Locker
- Uber Eats
- The North Face
- Under Armour
- Costco has an exclusive partnership with Visa, allowing store members to purchase items using Visa credit cards for in-store purchases. Customers cannot buy items using cards from other networks.
- Costco app and Costco.com purchases can be paid using MasterCard, Discover, and all Visa-branded cards.
- It is best to make cash payments at Costco to increase your credit score, avoid debt, and not have a Visa card.
Frequently Asked Questions (FAQs)
Does Costco accept Apple Pay MasterCard?
Apple Pay has revolutionized the way you make payments, and it’s gaining a market share owing to the contactless payment option. This easy-to-use method allows customers to pay through their iPhones. Costco accepts payment through Apple Pay MasterCard.
The warehouse and Apple have collaborated so that customers can pay quickly. With this method, you will not have to carry cash. However, there are certain limitations. You must ensure that your MasterCard is compatible with Apple Pay and that the warehouse location has an NFC reader.
Does Costco accept American Express?
No, Costco no longer accepts American Express credit cards. Since 1999, American Express has been Costco’s official partner for credit card services.
Since Costco now has an exclusive partnership with Visa, this contract prohibits them from using credit cards from other networks, such as American Express, MasterCard and Discover, at the warehouse. But you can use Discover and MasterCard to pay for online and app transactions at Costco.
Does Costco accept Capital One for payments?
No, Costco does not accept payments from Capital One. Gas stations and Costco warehouses have collaborated with Visa, which is why they have an obligation. The retail store cannot accept payment from any other network or non-Visa Credit Card, including Capital One.
Moreover, Capital One accounts have received an influx of applications. For this reason, Costco does not allow customers to make payments with that method.
How many cards can you have on a Costco account?
Costco allows a primary member to assign a free household card that can be given to any house member. As a result, another person from your house can avail of the membership benefits.
Ali Anees is a professional brand marketer focused on enhancing customer experiences. His focus is on conducting all-rounded research on U.S. retailers and services to provide updated information for our consumers.
He has a background in strategizing and developing marketing tactics for large Consumer Packaged Goods organizations. His understanding of the industry is beneficial when it comes to finding detailed and accurate information for our consumers.