This cohort of “silver tech” helped PayPal’s total payment volume recover back to “pre-Covid” levels, CFO John Rainey said at the J.P. Morgan Global Technology, Media and Communications Conference last week. In large part because of an increased purchase size. Venmo in particular stands to benefit from a new audience. The app has roughly 52 million active users thanks to its popularity with younger generations. But it has yet to turn a profit for its parent company. “We think that these are some sustainable trends in our business,” Rainey said at the annual event, which took place over video conferencing this year.

https://www.cnbc.com/2020/05/18/paypal-sees-a-rise-in-older-generations-trying-digital-payments.html