Venmo

Marketing and venture capital veteran Allison Johnson will become PayPal's executive vice president and chief marketing officer — a new role at the payments company as it tries to monetize its Venmo app.

Business pay has always lagged consumer innovation because of complexity. But new advancements in underlying business technology should change that, according to Rob Eberle, CEO of Bottomline Technologies.

PayPal is using Venmo's fast growth to power several initiatives, but the app suffered a damaging fraud surge early this year, showing it's not immune from enrollment fraud that challenges the entire P2P sector.

Shopify is no stranger to social media — it’s had a partnership with Facebook for three years — and it sees Venmo users' social sharing habits as the perfect means to expand its mobile commerce platform.

Zelle processed 116 million transactions during the third quarter as its payment volume jumped to $32 billion, while Venmo's volume increased 78% to nearly $17 billion.

Zelle processed 116 million transactions during the third quarter as its payment volume jumped to $32 billion, while Venmo's volume increased 78% to nearly $17 billion.

The Zelle network processed 116 million transactions during the July-September 2018 timeframe with a total value of $32 billion in payments.

PayPal reports it’s adding users to Venmo’s new initiatives quickly, pushing the company’s wish to monetize Venmo to what its CEO calls a “tipping point."

As Venmo does battle with Zelle and Square for consumers' P2P payments, one thing is clear: Innovation is not cheap.

It all comes down to convenience. New payment apps, like Venmo, and widely adopted mobile wallets, such as Apple Pay and Alipay, have made the consumer payment experience incredibly convenient, writes Ralph Dangelmaier, CEO of BlueSnap.