Venmo
Management names Venmo as a growth driver; the company is building it into a consumer financial services platform.
What it is
PayPal's peer-to-peer payments app and wallet for consumers, now extended with a credit card, merchant payments and expansion to new app stores and campuses.
Why it matters to the stock. Venmo is the main route to younger US users and a source of consumer engagement and fee revenue. The April 2026 reorganization made it the centre of the consumer financial services unit.
News
Venmo Credit Card offers up to 4% cash back on split payments from October 15
PayPal's Venmo Credit Card now pays up to 4% cash back on dining and entertainment, with 3% automatic and an extra 1% when the purchase is split with a Venmo friend within 30 days.
Venmo becomes a payment option on Google Play
PayPal's Venmo app is now a payment method on Google Play, where users can pay for apps, games, in-app purchases and subscriptions.
Diego Scotti signs separation agreement; departure effective June 2, 2026
PayPal signed a separation and release agreement with Diego Scotti, EVP and General Manager of the Consumer Group, on May 20, 2026, with his departure effective June 2.
PayPal reorganizes into three businesses, splitting out Venmo and naming new leaders
PayPal reorganized into three operating businesses: Checkout Solutions & PayPal, Consumer Financial Services & Venmo, and Payment Services & Crypto, which holds Braintree, SMB processing, value-added services and PYUSD.