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Venmo Unleashes Next Phase of Commerce with the Venmo Debit Card and Venmo Checkout

1. Venmo expands commerce capabilities with enhanced rewards for users. 2. Venmo revenue grew 20% year-over-year in Q1. 3. Total payment volume surged over 50%, monthly active accounts up 30%. 4. Venmo Debit Card users increased by 40%, boosting in-store and online payments. 5. New marketing campaign promotes Venmo's expansive spending options.

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Why Bullish?

Increased engagement and revenue growth can lead to higher stock prices, as seen when similar features boosted PayPal’s stock in the past.

How important is it?

The article details significant enhancements in Venmo that likely lead to increased use and revenue, which directly benefits PayPal’s valuation. These changes may attract both consumers and investors, influencing stock performance positively.

Why Short Term?

Immediate improvements in user engagement and revenue are likely to positively affect stock price in the near term. Historical trends show rapid response in market sentiment due to new user offerings.

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New Brand Campaign Reinforces Accelerated Expansion of Commerce Solutions with Enhanced Rewards In-Store and Online, /PRNewswire/ -- Venmo, a leading social payments platform, today announced an accelerated expansion of its commerce capabilities, introducing even more benefits for customers to use their Venmo balance beyond peer-to-peer payments - from everyday purchases to earning enhanced rewards in-store and online with the Venmo Debit Mastercard®1. You can Venmo this? Aimee Lou Wood and Patrick Schwarzenegger score a new vinyl, showing how you can pay for just about everything with Venmo. You can Venmo that? Aimee Lou Wood and Patrick Schwarzenegger in action for Venmo’s latest brand campaign, celebrating how users can spend and earn rewards when they pay with Venmo in-store and online. Aimee Lou Wood and Patrick Schwarzenegger flash smiles between takes as they show how easy—and rewarding—it is to pay with Venmo in-store and online. Venmo has been a go-to solution for sending money to family and friends, with over 64 million U.S. accounts using Venmo every month to split meals, send birthday gifts, and pay their portion of rent and utilities. Now, with consumers looking to simplify their financial lives and optimize their spending, Venmo is evolving into a more flexible and rewarding way to spend a Venmo balance on everything from rideshares to cookware. Venmo's growth is continuing to accelerate as more consumers use their balances for everyday commerce. In the first quarter, Venmo revenue grew 20 percent year-over-year. Pay with Venmo usage surged, with total payment volume up more than 50 percent, and monthly active accounts are up 30 percent. The Venmo Debit Card is also gaining momentum, with monthly active cardholders up 40 percent as more people use it to pay in-store and online. "Not only does Venmo deliver best-in-class peer-to-peer payment experiences, but we're transforming from a payments app into a full-service commerce experience for users to spend their balance on everything, in-store and online," said Diego Scotti, EVP, General Manager – Consumer Group. "Venmo users trust Venmo to move money, so we're making it easier – and more rewarding – to spend and live their lives with an app that moves as fast as they do."A More Rewarding Way to PayJust in time for summer, Venmo is supercharging its debit card rewards with new, limited-time cash back2 offers at some of its users' favorite brands. Venmo Debit Card users can now earn 15% cash back from Sephora, Walmart, Lyft, McDonald's, and Walgreens by activating their offers in the Venmo app to earn cash back on their eligible purchases in-store and online.Venmo Debit Card users can also enjoy these added features: Tap-to-Pay: Add the Venmo Debit Card to your mobile wallet to conveniently tap-to-pay in-store. Automatically add funds: Easily manage and top up your Venmo balance by setting up automatic transfers—either on a preset schedule or when your balance drops below a certain point. Pay internationally: Use the Venmo Debit Card for purchases anywhere Mastercard is accepted around the world, with no international transaction fees on purchases. Pass-through FDIC Insurance: With your Venmo Debit Card, your USD Venmo funds are held in Program Banks, where they are, subject to certain conditions, eligible for pass-through FDIC insurance up to $250,000 at each Program Bank. FDIC insurance protects against the failure of a Program Bank, not Venmo. Venmo is not a bank, does not take deposits, and is not FDIC-insured. See Venmo User Agreement. Pay with Venmo In-App and OnlineVenmo has also expanded its presence at checkout in-app and online, making it easier than ever to pay with Venmo at a wide range of top brands, such as TikTok Shop, Uber, Instacart, Domino's, and many more.Introducing 'Venmo Everything'To further accelerate the adoption of the Venmo Debit Card and checking out with Venmo, the brand has launched a high-energy brand campaign starring Aimee Lou Wood and Patrick Schwarzenegger, set to a reimagined version of the iconic rap song, "The Choice is Yours." Debuting today, the campaign features a vibrant brand film that follows Wood and Schwarzenegger as they seamlessly pay for everything – from everyday essentials like groceries to extras like records and hats – in-store and online.View the full ad starring Aimee Lou Wood and Patrick Schwarzenegger here."Everybody I know uses Venmo. For splitting costs for dinners, concert tickets and vacations, so I had to get Aimee Lou on board to make her life easier," says Schwarzenegger. "As an entrepreneur, I'm really serious about my 'rewards game,' so it's a win I can earn cash back when I pay with the Venmo Debit Card. I love a rewards hack.""Hanging out with my lovely friend, Patrick, I quickly found out that Venmo is a go-to way for people in the States to send money to friends, but it's so much more than that," says Wood. "As an Aquarius, I tend to be quite clever with money, so I love that you can earn some serious cash back when you spend your balance with the Venmo Debit Card – that means another astrology reading for me!"  The fully integrated campaign goes live today and will run across culturally relevant touchpoints, including social media, network TV during the NBA finals, podcasts, and gaming platforms to help expand consumers' understanding of all the ways they can spend with Venmo.1 The Venmo Mastercard® is issued by The Bancorp Bank, N.A., pursuant to license by Mastercard International Incorporated. Card may be used everywhere Mastercard is accepted. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated. The Bancorp Bank, N.A. is issuer of the Card only and not responsible for the associated accounts or other products, services, or offers from Venmo.  2 Max $8 avail. monthly per participating merchant. See terms at venmo.me/helpcenter.About VenmoVenmo is the go-to money movement app of the next generation, offering fast, safe, and social payments. With best-in-class experiences for users to send, split, shop, and sell, Venmo enables a seamless flow of money between the people and places that matter most to millions of users across the United States. For more information, go to: Venmo.com.  Media Relations Contact[email protected]SOURCE PayPal Holdings, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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