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Companies

Venmo Considers Making It Harder to See What Other People Are Buying

“In recent weeks, executives at PayPal Holdings Inc., the parent company of Venmo, were weighing whether to remove the option to post and view public transactions, said a person familiar with the deliberations. It’s unclear if those discussions are still ongoing, and regardless of the outcome, payments between friends would still be visible on the home […]
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Companies

Why Millennial Favorite Venmo Is Paypal’s Key to Future Success

“The possibilities are endless for Venmo, as it can be a payment option in any industry that has straightforward exchanges of money. Uber and Abercrombie & Fitch ANF are just two examples of Millennial-loved companies that Venmo has recently partnered with. These moves are part of a larger “Pay with Venmo” initiative, a long-term strategy to monetize Venmo. PayPal’s latest quarterly […]
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Companies

Venmo Looks to New Leader to Overcome ‘Growing Pains’

“Venmo is best known as a money-transfer service that connects to users’ bank accounts and lets them send money digitally, along with a caption or an emoji that by default gets posted into a public newsfeed. It has become a hit with consumers—more than $14 billion in payment volume moved across Venmo in the second […]
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Companies

Venmo’s Latest Effort to Turn a Profit: Credit Cards

“Venmo’s latest gambit to profit off its massive but still-not-lucrative user base involves a decidedly old-school idea: credit cards. Executives at the digital payments company have been meeting with banks since late last year to discuss issuing a Venmo-branded credit card, people familiar with the matter said. The company, owned by PayPal Holdings Inc., is […]
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Companies

PayPal Reports Strong 3Q Earnings on Surge in Venmo, New Members

“The company reported a surge in net new active accounts, rising 16% or 9.8 million to 295 million accounts.  The company saw a strong increase in business from Venmo, which rose 64% to process more than $27 billion in total payment volume during the quarter. Meanwhile P2P volume grew 39% to $51 billion during the […]
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Companies

PayPal’s Venmo Isn’t Enough to Drive Payment Volume Growth

“PayPal Holdings Inc. released first quarter results that showed rising sales and profit but a decline in payment volume growth, a closely watched measure of the company’s popularity among customers.    The San Jose, California-based met analysts’ expectations for revenue and exceeded them for per-share earnings last quarter. On a conference call after the report, […]
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Companies

Chevron App Now Accepts Venmo

“Chevron announced that its new Chevron and Texaco mobile apps now include Venmo as a payment option, making the company the first to accept the payment service for fuel purchases at the pump. ‘Chevron updated its branded mobile applications to offer consumers access to Venmo to pay for fuel and car washes at the pump from their mobile […]