Payments News


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 report proved the increasing significance of Venmo and mobile payments to the company. The app processed $14.2 billion in volume, soaring 78% year over year. Payment volume over the past 12 months amounted to $46 billion.”