![]() We actually have tens of millions of people who just have Venmo accounts. Leonhard: The interesting thing about PayPal and Venmo is that the overlap of our consumer bases is not one-to-one. RTP: How does this all fit within the larger PayPal ecosystem, especially where the two brands have similar offerings - do you ever find you’re competing with yourself? Our merchants are seeing higher conversion rates, and as a result we’re seeing a tremendous amount of volume growth within Venmo - 250% year over year. We’re seeing that shoppers are actually 19% more likely to complete a purchase with Venmo over traditional payment methods, and we’ve also found that Venmo users shop over 2X more frequently than the average shopper, and 19% are more likely to make repeat purchases.įor example, Pressed, a quick service restaurant that does juices, saw a 57% higher membership average order value through Venmo than with traditional credit cards. It’s just so seamless and easy to accept Venmo, so people are using it and actually spending more. ![]() We launched a little over a year ago, and already have 1.5 million small businesses with profiles. ![]() Artists who are selling crafts at a fair, barbers serving up one-of-a-kind haircuts or the florist down the street are using these business profiles to interact on the Venmo platform and talk about all the great things they’re selling. What that enables people to do is accept payments for goods and services and then also grow and market their business on the Venmo platform. Then on the smaller side - for the solopreneurs, the casual sellers and users with a side hustle - we have Venmo business profiles. ![]()
0 Comments
Leave a Reply. |