PayPal says Venmo is starting to pay off [MarketWatch]
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PayPal says Venmo is starting to pay off Part of the bull case for PayPal Holdings Inc. hinges on the company’s ability to successfully monetize its loyal Venmo user base. If company commentary is any indication, those efforts are starting to pay off. PayPal’s efforts to make money from the peer-to-peer Venmo service began in earnest late last year. Of course, millennials weren’t going to start paying a fee for the ability to repay their friends, something that Venmo and other services have let them do for free for quite some time. Instead, PayPal PYPL, +2.85% hopes that Venmo users will start using their accounts to shop for things online, so that the company earns a transaction fee from the merchant, or pony up a few cents to access their funds immediately. “Overall adoption of monetizable services is exceeding our original expectations,” Chief Executive Dan Schulman said on the company’s first-quarter earnings call Wednesday afternoon. PayPal shares are up 2.9% in Thursday tradi
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