Venmo has more than 40 million active accounts, giving it a larger digital footprint than all but one big U.S. bank
More than 40 million individuals used Venmo in the past 12 months, making the digital-money transfer service among the most popular financial apps in the country.
PayPal Holdings Inc. lifted the veil on the size of one of its fastest-growing segments for the first time on Wednesday as part of its first-quarter earnings release. Venmo also reported sharp growth in overall volume, with total payments on its platform rising 73% to $21.3 billion in the first three months of 2019.
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