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Companies

Venmo Continues To Shine For PayPal

“PayPal continues to see success with Venmo as the mobile person-to-person app accounted for more than $14 billion in total payment volume in the second quarter that ended June 30, according to PayPal’s latest quarterly statement. Venmo overall has processed more than $46 billion of total payment volume over the past twelve months, according to the […]
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Companies

PayPal’s Venmo App Exposes Most Transactions Via Its API

“The vast majority of Venmo transactions are being logged in a public API accessible to anyone, according to the recent investigation of a privacy advocate. The reason this happens is because the Venmo app’s default settings are set to “Public” for all users.  Unless users specifically change this value, all the transactions they make via […]
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Companies

Uber And Uber Eats Now Let You Split The Bill Using Venmo

“A key factor in this latest partnership appears to be data suggesting Venmo was already a popular mechanism for sharing payments between multiple Uber riders. Someone would pay for an Uber ride through their account, as usual, and then request reimbursement from their friends through Venmo. According to the company, more than 6 million Venmo […]
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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 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

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

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

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, […]