PayPal leans on Venmo for growth
Payments Dive
MARCH 6, 2023
While the digital payments pioneer has kept its PayPal and Venmo operations separate, the parent company expects them to converge in about a year.
PayPal partners with Ingo Money on Venmo check deposit
Payments Source
JANUARY 4, 2021
PayPal’s Venmo has launched a new “Cash a Check” feature on its mobile app to some customers. The offering is made in partnership with Ingo Money and its parent, First Century Bank.
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Amazon drops Venmo users
Payments Dive
DECEMBER 7, 2023
Jettisoning Venmo from the retail juggernaut’s marketplace is another strike against PayPal’s recent growth efforts.
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Venmo to launch teen account
Payments Dive
MAY 23, 2023
The move is part of PayPal’s plan to lean on Venmo to lure more users.
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PayPal and Venmo Unveil Six New Innovations to Revolutionize Commerce
PayPal
JANUARY 25, 2024
Company introduces reimagined checkout and guest checkout experiences, new advanced offers platform for merchants, and new consumer app to earn cash back and give customers more reasons to shop with PayPal New Venmo enhancements enable local small businesses to be discovered and grow
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PayPal's pandemic winning streak continues; Venmo reaches $44 billion in volume
Payments Source
NOVEMBER 2, 2020
Reflecting the rapid transition to digital payments, PayPal has reported its strongest growth in total payment volume and revenue in its history, coupled with strong growth for Venmo, its P2P app.
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Tune in to an Exclusive Preview of the Newest Innovations from PayPal and Venmo
PayPal
JANUARY 16, 2024
PayPal will provide an exclusive preview on January 25, 2024 at 9:30 am PT of the first innovations PayPal and Venmo are piloting and bringing to market this year.
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PayPal reports strong numbers for Venmo, Visa posts solid Q2
Payments Dive
APRIL 25, 2019
PayPal and Visa reported strong earnings in the first quarter of 2019, with PayPal breaking out Venmo numbers for the first time.
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PayPal hit with Venmo fraud lawsuit
Payments Dive
JUNE 30, 2022
Yet another lawsuit related to alleged fraud on a peer-to-peer payment app targets digital payments company PayPal.
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159 CFPB probe of Venmo complicates PayPal's plans
Payments Source
FEBRUARY 5, 2021
The inquiry into Venmo's debt collection practices is a taste of what PayPal can expect as it expands to other categories that increasingly face regulatory pressure.
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American Express Links Up With PayPal, Venmo To Enable Customers To Split Payments
PYMNTS
NOVEMBER 16, 2020
American Express is teaming up with PayPal and Venmo to offer a new way for their customers to send money, split purchases and manage their expenses. Cardholders will be able to send money to any PayPal or Venmo customer directly from the American Express App. We have a large roadmap around this for Venmo as well.”.
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Amazon ditches Venmo
Finextra
DECEMBER 7, 2023
Shares in PayPal fell on Thursday after Amazon said it was removing Venmo as a payment option.
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PayPal's Solid Q3, Big Crypto Ambitions And Plans To Bring BNPL to Venmo
PYMNTS
NOVEMBER 2, 2020
It was another quarter of record-breaking results for PayPal , which saw both record transactions and new customer enrollments in Q3. PayPal is now reporting a run rate of approximately $1 trillion dollars in payment volume. Additionally, PayPal reported processing a record 4 billion transactions during Q3.
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Visa+ expands its availability for PayPal and Venmo users across the US
Tearsheet
APRIL 22, 2024
At the time, Visa+ outlined plans to make the service widely available to Venmo and PayPal users in the US by mid-2024. Expanding on last year’s announcement, the recent development marks the official [consumer] launch of the service with inaugural partners PayPal, Venmo, and DailyPay.
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Hyperwallet adds an avenue for PayPal to make Venmo profitable
Payments Source
JULY 18, 2019
Ever since PayPal took control of Venmo as part of its 2013 purchase of Braintree, it has woven Venmo into more and more of its products. Even other acquisitions aren't immune to the spread of Venmo.
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PayPal Stablecoin (PYUSD) Made Available on Solana Blockchain
The Fintech Times
MAY 30, 2024
PayPal USD (PYUSD), PayPal ‘s USD stablecoin, will now be available on the Solana blockchain. “Continued adoption from industry participants like PayPal helps realise the next generation of fintech innovation.” PayPal USD is issued by Paxos Trust Company, a fully chartered limited purpose trust company.
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Xoom Enables Partners to Use PayPal USD for Faster Cross-Border Payments
Fintech News
NOVEMBER 20, 2024
PayPal has announced that its disbursement partners can now use PayPal USD (PYUSD) to settle cross-border money transfers via Xoom, its digital remittance platform. Xoom, a PayPal service, offers digital remittance services in over 160 countries, providing users with a convenient platform to send money, pay bills, and reload phones.
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PayPal Eyes Credit To Monetize Venmo
PYMNTS
APRIL 21, 2019
Venmo, the digital payments company, is reportedly considering launching credit cards as a way to profit from its large customer base. Venmo, which is owned by PayPal, is reportedly settling on Synchrony Financial to issue the Venmo credit card. Venmo isn’t the only one that is eyeing the credit card market.
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Geoff Seeley Joins PayPal as Chief Marketing Officer
PayPal
FEBRUARY 26, 2024
Seeley brings over 25 years of global brand, digital, and performance marketing expertise to PayPal and its family of brands, including Venmo.
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Why Venmo's P-to-P recipe remains hard for banks to copy
Payments Source
OCTOBER 31, 2016
The race to dominate person-to-person transfers has been a curious one so far, because P-to-P typically isn’t a money-maker for banks or even for PayPal, whose Venmo unit is generating red-hot growth this year in the category.
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Strong Venmo and QR Code Payments Growth Help PayPal Score Record Q2 Earnings
PYMNTS
JULY 29, 2020
In an earnings season defined by diminished expectations amid the worldwide economic shutdown, PayPal not only beat analysts’ expectations Wednesday (July 29) but enjoyed a record quarter. And the company credited its Venmo peer-to-peer (P2P) payments platform and QR code-based contactless-payments system for a big part of that success. “In
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Venmo Launches Credit Card Featuring User QR Codes
PYMNTS
OCTOBER 5, 2020
Venmo , the mobile payment service owned by PayPal , announced Monday (Oct. The Venmo Credit Card lets Venmo's more than 60 million customers to shop, share or split purchases and earn cash back wherever Visa credit cards are accepted, the release stated. In July, PayPal reported a record second quarter.
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At $4 billion, did PayPal overpay for Honey?
Payments Source
NOVEMBER 27, 2019
With only 17 million users, compared to PayPal’s 300 million, Honey seems minuscule. But this is PayPal's largest acquisition ever by price, and it far eclipses the $800 million PayPal spent in 2013 for Braintree, which owned Venmo.
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PayPal settles Venmo disclosure complaints with the FTC
Payments Source
FEBRUARY 27, 2018
The Federal Trade Commission contends Venmo misled consumers on funds availability and security disclosures.
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Venmo launches card with QR and NFC—both in the plastic
Payments Source
OCTOBER 5, 2020
Coronavirus galvanized the use of NFC payments and QR codes, and PayPal wants to harness both trends for Venmo’s first credit card.
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Amex links to Venmo, PayPal for splitting the bill, paying with points
Payments Source
OCTOBER 15, 2019
American Express is adding a new dimension to its year-old partnership with PayPal by giving credit card customers more options for splitting a restaurant check and paying with loyalty points.
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Venmo Payment Fraud Led To $40M In Losses
PYMNTS
NOVEMBER 25, 2018
Venmo , the digital money transfer service owned by PayPal , suffered payments fraud earlier in 2018 that played a role in the company posting losses that were higher than forecasted for the first quarter of this year. percent of overall volume at Venmo in March compared to 0.25 percent in January. percent and are now lower.
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Venmo, mobile payments push PayPal far beyond its eBay past
Payments Source
JANUARY 30, 2020
PayPal reported strong growth in revenues, earnings, payments volume and users, demonstrating as the company has finally transitioned away from the vestiges of its former eBay ownership.
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PayPal Waives Check Cashing Fees For Stimulus Checks
PYMNTS
DECEMBER 22, 2020
PayPal will allow customers to cash their next stimulus checks free of charge, according to a press release. The payments giant said in the release that the checks will go through instantly on the PayPal app's cash-a-check feature. This can be done from a mobile phone, without the user leaving their home to go to a bank or ATM.
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PayPal counts on its digital app for gains
Payments Dive
NOVEMBER 28, 2022
The digital payments pioneer is scouting for new ways to increase customer use of its digital wallet, including plans to add a new Venmo teen account.
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Venmo Pilots Business Payments For Micro SMBs
PYMNTS
JULY 2, 2020
Venmo will introduce a new feature for businesses to accept payments separate from the individual owner’s account, a press release says. are sole proprietors, the release says, and Venmo wants to aid them in the times when the pandemic has shut down many businesses or rendered them inoperable due to the risk of transmitting the coronavirus.
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PayPal Shares Jump On Positive Venmo, Earnings News
PYMNTS
OCTOBER 19, 2018
Following a third-quarter earnings and revenue beat as well as a strong quarter for Venmo, shares of PayPal jumped 9 percent on Friday (Oct. The total payment volumes of Venmo skyrocketed by 78 percent and reached $17 billion. And nearly a quarter – or 24 percent of Venmo users – completed a “monetizable action.”
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Amazon rolls out Venmo payment option
Payments Dive
OCTOBER 25, 2022
The e-commerce giant’s new payment method was first teased in an announcement from Venmo owner PayPal last year.
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Venmo, Square Cash Vie For Stimulus Funds Distribution
PYMNTS
MARCH 29, 2020
Venmo and Cash App want to be considered as ways the U.S. Officials with Square and Venmo parent PayPal expressed optimism that the Treasury could potentially come around to utilizing their apps for payment services eventually, saying the talks weren’t close to done yet.
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Using Venmo for Business: Everything You Need to Know
Payment Savvy
JUNE 7, 2023
When looking for a new payment method for business, Venmo may not be the first option to spring to mind. Venmo can also be used by companies to provide their customers with yet another convenient payment option. Venmo can also be used by companies to provide their customers with yet another convenient payment option.
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Venmo Raises Rate For Instant Transfers
PYMNTS
OCTOBER 14, 2018
Venmo , the digital payment unit of PayPal , has raised the fee for instant transfers when moving money from their account to a traditional bank account, according to reports. According to reports, that means if you are transferring more than $25 via that method on Venmo you will pay the digital payment company.
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PayPal finally reveals Venmo user count, as Zelle keeps growing
Payments Source
APRIL 24, 2019
Venmo has more than 40 million active users, PayPal has revealed for the first time. This finally gives the market a sense of how popular Venmo is, and sheds a little light on how it compares to the bank-run Zelle service.
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PayPal Teams With Gap, DoorDash For Payments, Checkout Solutions
PYMNTS
NOVEMBER 17, 2020
New entries to PayPal 's enterprise merchant roster include delivery company DoorDash and clothing retailer Gap Inc. which will now allow customers to use PayPal at checkout, according to a press release. CVS officials said the move would help the company stay on pace with new digital innovations in the payments world.
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PayPal Reportedly To Offer Direct Crypto Sales
PYMNTS
JUNE 22, 2020
PayPal will offer direct cryptocurrency sales for customers, CoinDesk reports. It would be an upgrade of the current PayPal functions for withdrawing funds from sources like San Francisco’s Coinbase. customers using PayPal. European and Canadian Coinbase users gained the option to withdraw to PayPal last year.
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PayPal and Venmo Unveil Six New Innovations to Revolutionize Commerce
Fintech Finance
JANUARY 26, 2024
PayPal Holdings, Inc. PayPal is on a mission to revolutionize commerce, globally, and today we are starting the next chapter,” said Alex Chriss, President and CEO, PayPal. Business owners want to focus on the next sale and consumers are looking to remove any annoying interruptions like password prompts or lagging response times.
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PayPal’s new CEO takes the Venmo challenge
Payments Dive
MARCH 21, 2024
PayPal has been striving for more than a decade to better connect Venmo to merchants and make it pay off. Now, a new CEO has inherited the challenge.
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PayPal CEO: Digital Payments To Be $100T Market
PYMNTS
FEBRUARY 20, 2019
In an interview with CNBC, PayPal CEO Dan Schulman estimated the market will come into that size, noting, “That’s sort of the market — total adjustable market — we’re playing into.” The interview touched on competition between Zelle and Venmo, and the PayPal CEO said that there are differences in how the platforms are used.
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