News stories featuring Venmo:
April 28th, 2017
Apple is working to launch a peer-to-peer (P2P) payment service later this year, according to Recode. “The company has recently held discussions with payments industry partners about introducing its own Venmo competitor,” the publication reports. Apple is also in talks with Visa about creating its own prepaid cards that would tie to the P2P service, Recode says. “Users could then add the debit card, which may only come in a digital form, to their Apple Pay digital wallet to use for tap-and-pay purchases at brick-and-mortar stores.”
November 10th, 2016
The value of mobile payment transactions made in the US is expected to rise 183.3% this year to US$27.67bn, more than doubling next year and reaching US$314.13bn by the year 2020, research released by eMarketer…
November 2nd, 2016
More than half of US consumers (60%) are currently using a method of digital payment with the most popular proving to be PayPal, used by 51%, a study conducted by Thales in conjunction with Wakefield Research reveals. Apple Pay came in second with 11%, followed by Google Wallet (7%), Android Pay (6%), Chase Pay (6%), Samsung Pay (5%) and Venmo (3%). “88% of respondents reported they would discontinue using digital payments if they personally fell victim to cybercriminal activities as a result of a data breach,” the survey finds.
November 1st, 2016
More than eight in 10 US consumers (82%) trust banks most to keep their payments safe, research from the American Bankers Association (ABA) reveals. “Only 3-4% of consumers trust major retailers or telecom companies to protect their payments,” ABA says. Some 11% trust alternative payment providers such as Apple, PayPal and Venmo, while 21% of consumers have used a mobile app on their phone to make a payment — 65% have used PayPal, 34% have used Apple Pay and 32% have used Android Pay.
October 24th, 2016
America’s biggest banks have launched a money-transfer app to compete with PayPal, Venmo and Square Cash, Reuters reports. Zelle, developed by bank-owned Early Warning Services, is built on top of a payments network that connects the country’s five biggest banks — and others — including Chase, Citi and Bank of America. Another 20 banks will be added early next year. “This is about creating a wide, and inclusive, alternative to cash and checks for everyone,” says Early Warning Services chief executive Paul Finch.
October 18th, 2016
Nearly one in five US smartphone owners (18%) have now used a mobile payment app, research released by Parks Associates reveals, with PayPal proving to be the most popular among all US smartphone users with…
September 9th, 2016
The PayPal-owned Venmo mobile payments app may soon allow users to make in-store purchases using NFC. PayPal is also adding NFC mobile payments to its PayPal Wallet through an agreement reached with Visa in July 2016 and the Mastercard deal announced this week. “Venmo and its parent company, PayPal, are adding in-store payments to their mobile apps in the first half of 2017,” Quartz reports. “Jim Magats, PayPal’s head of global core payments, tells Quartz that PayPal is in discussions with Apple to see how they can work together in the future.”
August 16th, 2016
More than three quarters of US retailers (76%) plan to accept Apple Pay by the end of 2017, research released by the National Retail Federation and Forrester reveals.
July 27th, 2016
Users of the PayPal-owned Venmo mobile payments app will soon be able to make purchases in third party mobile apps using the service. “The feature has expanded to more than ten vibrant merchants that we know our core users will love — Munchery, Gametime, Priv, Poshmark, Hop Market, Wish, Parking Panda, Dolly, Urgentli, Boxed and, most recently, delivery.com will now accept Venmo payments,” PayPal says.
March 3rd, 2016
Nearly six in ten US millennials (58%) say cash is their preferred way of paying and being paid by friends, followed by P2P payment apps (26%), cheque (8%) and electronic bank transfer (8%), GOBankingRates reveals. Of the 26% who chose P2P payment apps, 11% prefer PayPal, followed by Venmo (6%), Google Wallet (5%) and Square Cash (4%).
October 30th, 2015
An “overwhelming majority” of US consumers (75%) say they most trust banks to keep their payments safe, an American Bankers Association survey has found. 4% most trust alternative payment providers such as PayPal and Venmo while only 1% most trust major retailers or telecom companies. 6% of US consumers have used a mobile app to make a payment, the survey found, with PayPal most popular (45%) followed by Apple Pay (42%) and Google Wallet (11%).
May 29th, 2015
PayPal-owned payment processor Braintree has integrated support for Android Pay into its v.zero SDK to make it easier for merchants to add support for the payment solution as a checkout option inside their Android apps. “We’ve connected with Android Pay on our back end to reduce the number of API calls and provide a streamlined payment flow,” the company says. The SDK already supports debit and credit card payments, PayPal, Venmo, Apple Pay and Bitcoin.
February 3rd, 2015
5% of US consumers currently use a mobile wallet and 18% intend to use one in the next year, credit scorer Fico’s “Millennial Banking Insights and Opportunity” survey has found, with the percentage rising to 32% among Millennials — defined as those born between 1980 and 1994. 21% of respondents said they currently use an alternative payment service like Venmo or PayPal and 39% expect to use one in the next year.
November 18th, 2014
Users of the Venmo mobile payment app can now sign in with Apple’s TouchID feature on the iPhone 5S, 6 and 6 Plus. “If you have a Apple device with TouchID, you can now use your fingerprint instead of a PIN to access the Venmo app,” the company says.
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