Venmo remained a highight of Paypal's earnings report, processing $6.8 billion in the first quarter of 2017 while demonstrating 114% year-over-year growth. The service plans to begin monetizing by offering a Venmo payment option in various apps, and by charging merchants a per-transaction fee.
| less than a minute read
Venmo makes moves to monetize
Historically, most of these players have taken on mobile P2P at a loss because it’s a low-friction way to onboard users and won’t catch on unless it’s free, or largely free, to consumers. But as it becomes more popular and starts to eat into these firms’ traditional streams of revenue, finding ways to monetize is increasingly important. That could mean moving P2P functionality into more profitable environments, leveraging existing networks of friends to encourage spending, or offering value-added services at a nominal fee.
