Business

PayPal Q1: Venmo Users Hit 40M, Payments Volume Dips


“As user growth continues to accelerate, merchants are increasingly turning to Venmo as a way to attract a valuable and engaged consumer base.”


Despite this performance, Schulman reiterated that he expects that PayPal and eBay would continue to have a strategic, and friendly relationship over the longer term.


During the call with analysts, Shulman and Chief Operating Officer Bill Ready pointed to Venmo’s growth not only as a P2P payment network, but also as a payment method for its active and deeply enthused customer base, calling out partnerships made in the recent past with Chipotle, Grubhub and Uber, among other merchants.


“As user growth continues to accelerate, merchants are increasingly turning to Venmo as a way to attract a valuable and engaged consumer base.”


While Ready confirmed they see interest across their user base for all kinds of Venmo-connected financial products, there is “nothing beyond the Venmo debit card that we are looking at this time.”


Dan Schulman , earnings , eBay , merchants , Monetization , News , Payments Volume , PayPal , q1 , tpv , user base , Venmo , What's Hot






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