{"id":149984,"date":"2019-04-27T23:02:42","date_gmt":"2019-04-28T04:02:42","guid":{"rendered":"http:\/\/www.etrafficlane.com\/60dollarmiracle\/how-venmo-makes-money"},"modified":"2019-04-27T23:02:49","modified_gmt":"2019-04-28T04:02:49","slug":"how-venmo-makes-money","status":"publish","type":"post","link":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/how-venmo-makes-money","title":{"rendered":"How Venmo Makes Money"},"content":{"rendered":"<p><\/p>\n<div>\n\t\t<!-- adman_adcode_beginning --><\/p>\n<p>[youtube https:\/\/www.youtube.com\/watch?v=l-9VC_uJw4U?rel=0&amp;autoplay=1&#038;w=580&#038;h=385]<\/p>\n<p>Venmo has revolutionized the way pay each other back. From sending roommates the rent check to reimbursing friends for dinner, people \u2018Venmo\u2019 each other all the time. But have you ever wondered how this fun, emoji laden payments app actually makes money? Well, for years, it hasn\u2019t. But now Venmo is on the cusp of profitability for its parent company, Paypal. <\/p>\n<p>Concerns remain about privacy for users and security for their money. And many on Wall Street are still waiting to see whether this millennial digital payments phenomenon is just flash in the pan or if it\u2019s really here to stay. Bill Ready, Paypal\u2019s COO and the man who brought the once no name app to mainstream fame invited CNBC to Venmo\u2019s New York offices to get a look inside how the payment app works.<\/p>\n<p>NOTE: On April 24, 2019 (a day after this video was published), PayPal revealed for the first time that Venmo has 40 million users. In the video above, CNBC cited eMarketer, which had estimated 27.4 million Venmo users as of April 2018.. <\/p>\n<p>In its first-quarter 2019 earnings report, PayPal said it now has a total 277 million total customer accounts \u2014 including 22 million merchant accounts. Total payments volume for Venmo grew 73 percent year over year to $21 billion in the first quarter, the company said. The company said Venmo is still on pace to do $100 billion in payment volume this year. <\/p>\n<p>\u00bb Subscribe to CNBC: http:\/\/cnb.cx\/SubscribeCNBC<br \/>\u00bb Subscribe to CNBC TV: http:\/\/cnb.cx\/SubscribeCNBCtelevision<br \/>\u00bb Subscribe to CNBC Classic: http:\/\/cnb.cx\/SubscribeCNBCclassic<\/p>\n<p>About CNBC: From \u2018Wall Street\u2019 to \u2018Main Street\u2019 to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more.<\/p>\n<p>Connect with CNBC News Online<br \/>Get the latest news: http:\/\/www.cnbc.com\/<br \/>Follow CNBC on LinkedIn: https:\/\/cnb.cx\/LinkedInCNBC<br \/>Follow CNBC News on Facebook: http:\/\/cnb.cx\/LikeCNBC<br \/>Follow CNBC News on Twitter: http:\/\/cnb.cx\/FollowCNBC<br \/>Follow CNBC News on Instagram: http:\/\/cnb.cx\/InstagramCNBC<\/p>\n<p>#CNBC<br \/>#Venmo<br \/>#PayPal<\/p>\n<p>How Venmo Makes Money<\/p>\n<p><a href=\"https:\/\/www.youtube.com\/watch?v=l-9VC_uJw4U\">source<\/a><\/p>\n<p><!-- adman_adcode_after --><\/p>\n<p class=\"dpsp-share-text\">Sharing is caring!<\/p>\n<p class=\"gasd_author\"><a href=\"https:\/\/etrafficlane.com\/newline\/about-me\" rel=\"author\" title=\"Profile for Dalelorenzo Johnson\">Profile for Dalelorenzo Johnson<\/a><\/p>\n<\/p><\/div>\n\n<p><a href=\"https:\/\/etrafficlane.com\/newline\/how-venmo-makes-money\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[youtube https:\/\/www.youtube.com\/watch?v=l-9VC_uJw4U?rel=0&amp;autoplay=1&#038;w=580&#038;h=385] Venmo has revolutionized the way pay each other back. From sending roommates the rent check to reimbursing friends for dinner, people \u2018Venmo\u2019 each [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-149984","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/posts\/149984","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/comments?post=149984"}],"version-history":[{"count":0,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/posts\/149984\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/media?parent=149984"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/categories?post=149984"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/tags?post=149984"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}