Venmo's path to profitability for PayPal: Cashing in on $62 billion payments processed per year

, is known for its emoji-filled newsfeed where users can see who their friends are paying, and for what. It ranges from roommates reimbursing utilities and rent checks to friends paying each other back for lunch, or last night's bar tab.

But does Venmo actually make money? For years, it hasn't. In 2019 though, PayPal Chief Operating Officer Bill Ready says the app has made progress towards breaking even. For now, the team at Venmo is more concerned with expanding its share of the digital payments market. Still, there are concerns about privacy for users and security for their money. There's also competition from the big banks, which launched their own peer-to-peer payment option called Zelle. Payments companyMany on Wall Street are watching closely to see whether this millennial-driven payments phenomenon is a flash in the pan or here to stay.

Cash will never die.

💵4🍑

Screw venmo. I hate that company

BECAUSE LIFE IS NOT ALL ABOUT CAPITALISM. That’s why this country is in such a greedy inhuman mess. SMH.

Cash is still king

great business model..

😂

it needs to be tangible if you really want to 'feel' value

CASH IS STILL KING

Cold hard cash used to be king. Now, peer-to-peer payment apps are on top. But how does Venmo, one of the most popular payment apps, make candy? Short answer: It doesn't.

Nothing can beat cold hard cash

What happens to the $ when the majority of exchanges become crypto currency peer to peer exchange?

Land of the free, with every transaction being watched over by the all-seeing big brother

Not true! They have data to sell

Cash is still king for me. No debit card. Credit card used only for internet orders. Only one payment app and I rarely use it. I think most don't take credit cards anyway. For me, it's almost always cash

greatweet But how does Venmo make money? make/made/made😀😀😀 Check it out! kindle KindleUnlimited ingles english

Ok boomer

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We need this in puerto rico

Venmo is owned by PayPal. So we know the end result!

Not good

“It ranges from roommates reimbursing utilities and rent checks to friends paying each other back for lunch or last night’s bar tab.“ not much of a range here

venmo can't be a competitor to bitcoin & cryptocurrency bc it's not hosted on blockchain & as such not decentralized.It takes 2days to settle whereas crypto is instant n8v n8vcoin $DIG fintech DLT Crypto APompliano cz_binance PayPal Millennials Digital lawmaster

venmo

No, cash has been replaced by credit cards. Wake up CNBC.

This is the beauty and genius of cryptocurrency. It's private, safe and practically instant transactions confirmed by a decentralized 3rd party. Venmo, much like banks, can control your money and where you spend it.

THERE IS NOT A CHANCE I WILL EVER USE VENMO. Sounds like a cheap wine that a bum would buy foe ,99 cents.

Lol stallings_5

🤑🤑🤑

Cold hard cash used to be king. Now, peer-to-peer payment apps are on top. But how does Venmo, one of the most popular payment apps, make candy? Short answer: It doesn't.

venmo

Nope. Cash is nice. Gold is king. Smart people have cash and gold.

There's an error in this video - Venmo is not peer-to-peer. I'd rather use $Nano - genuine peer-to-peer paid in 190ms, with no cut by a middle-man.

🐠🎣🦈

No thanks. I’ll just use crypto.

Bernie2020

telcoin_team app will be much better. You should read about it.

Ya resim çok hoşuma gitti ,bi sürü resim varda vakit yok ❤️

Um yeah, whatever.

another thing you can get hacked and your stuff stolen... winning

Cash will NEVER be gone, ever.

I can't make it rain Venmo on dem hoes. Figure that out and cash is gone.

beautybydom

Bitcoin is the future

Well done, post looks great, checkout instacryptonews their work is great too.

We are being led down a dark path with this easy sit on your ass tech. !

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