Venmo

PayPal CEO Dan Schulman (pictured) voiced optimism on the company’s plans to further expand the scope of its person-to-person mobile payment brand Venmo, as it reported its active customer base on the platform hit 52 million in Q4 2019.

Former chief of US mobile payments brand Venmo and current COO of PayPal Bill Ready confirmed a report stating he would become president of commerce at Google in January 2020.

Juniper Research predicted the use of mobile cash transfer technology in emerging markets and increased adoption of payments through social networks in the US would help drive a rapid increase in digital remittances.

PayPal peer-to-peer payment brand Venmo debuted its first ever rewards programme, offering users in the US cash back when they pay using its debit card at select retailers.

Juniper Research predicted increased popularity for mobile person-to-person (P2P) transfer systems, with young adults driving strong adoption of social payment brands such as PayPal’s Venmo.

PayPal’s peer-to-peer payment brand Venmo and bank-backed rival Zelle both laid claim to hefty Q1 growth rates, as customer and transaction values continue to climb.

PayPal CEO Dan Schulman (pictured) tipped mobile payment platform Venmo to record further rapid growth after the value of transactions processed on it increased 80 per cent year-on-year in Q4 2018.