1 in 4 Venmo users' actions on the app can be monetized, PayPal CFO says [CNBC]
American Express Company (AXP)
Last american express company earnings: 4/24 07:00 am
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Source: CNBC
show chapters A quarter of Venmo users are currently using PayPal's millennial-friendly payments app in a way that the financial technology company can monetize, PayPal Chief Financial Officer John Rainey told CNBC on Friday. If we look at the most recent quarter, roughly one in four Venmo customers are using Venmo in a way today that we're able to monetize, Rainey said in an exclusive interview with Mad Money host Jim Cramer . That could be with using Venmo to shop online, it could be using our physical card in a store, or it could be using the instant cash withdrawal so they can transfer funds immediately into their bank account, the CFO continued. Speaking after PayPal's strong earnings report sent shares of the payments giant up more than 9 percent in Friday's trading session, Rainey reiterated CEO Dan Schulman's comments about Venmo reaching a tipping point. It's a bit of an inflection point for us, Rainey told Cramer, whose cha
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