Peer-to-peer payment service Venmo is one of PayPal’s (PYPL) most visible products. And if you ask PayPal’s CEO, Dan Schulman, Venmo has become a crown jewel for the company. The executive spoke to Bloomberg TV early this month and, among other things, disclosed that Venmo had been adding a record number of new active users over the past three consecutive quarters.
PayPal currently doesn’t disclose Venmo’s user numbers. However, Venmo’s monetizable base has continued to expand, reaching 29% in the fourth quarter from 24% in the third quarter.
View more information: https://marketrealist.com/2019/02/how-paypals-venmo-is-crushing-the-competition/