PYMNTS

NOVEMBER 12, 2020

FDIC) study found that the number of unbanked U.S. consumers are now using some kind of P2P mobile application, such as Venmo.”. PayPal alone has almost 300 million registered users, many of [whom] would be considered unbanked or underbanked. A recent Federal Deposit Insurance Corp. Thirty-one percent of U.S.

Online and Mobile Banking 81

Online and Mobile Banking Financial Inclusion PayPal FDIC 81

PYMNTS

MARCH 26, 2020

For example, PayPal does many of the same things that traditional banks do – but it isn’t a bank, and has said repeatedly over the years that it has no intention of ever becoming one. Square also made the jump into officially becoming a bank this week, with the award of an ILC banking license by the FDIC.

Innovation 96

Innovation Non-Bank Venmo ATM 96

PYMNTS

OCTOBER 26, 2018

The improvement is tied to the strength of the economy, and the survey conducted by the FDIC also found an improvement in the “underbanked” rate, which was 18.7 PayPal and Venmo are gaining traction, as Zelle saw 15 percent growth quarter over quarter to 116 million transactions in Q3, worth $32 billion. percent last year, 1.2

Office of the Comptroller of the Currency 53

Office of the Comptroller of the Currency B2C Online and Mobile Banking P2P 53

PYMNTS

JUNE 14, 2018

While tools like Venmo, PayPal and Square have their place, Brisker said they function more like a virtual check; they’re focused on sending a payment to somebody you know. That got Brisker thinking: Although there are many useful digital payments tools on the market, there’s nothing that really replaces cash in the way we know it.

Privacy 47

Privacy P2P Venmo Non-Bank 47

CB Insights

DECEMBER 4, 2019

Webpay failed to gain user traction and was shut down in 2014, unlike up-start Venmo (now a part of rival payments processor PayPal). Although Bill Me Later was quickly scooped up by PayPal in 2008, Amazon has remained focused on reducing payment friction for customers. US households, composed of 14.1M adults and 6.4M

Online and Mobile Banking 101

Online and Mobile Banking Push-to-Card Payment APIs and Integration Non-Bank 101

PYMNTS

MAY 2, 2016

Venmo may have managed to get itself into some trouble with the FTC – though how much, what for exactly and how worried parent company PayPal should be worried are a bit up in the air. Venmo’s FTC Troubles(?). The week started so well for Venmo and PayPal. Need to know a bit more? Good news for you.

Legal 40

Legal Venmo FTC Federal Trade Commission 40