FinTech Futures: Top five stories of the week – 14 April 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Venmo
Visa announces Visa+ to support interoperability between P2P apps
Visa has partnered with PayPal and Venmo to trial the new service.
PayPal launches UK crypto service
It is the first international expansion of the service outside the US.
Dosh powers PayPal’s Venmo and US challenger Jelli
The fintech says it will soon have 60 million indirect users.
PayPal and Venmo to “allow buys and sells of crypto directly”
It is understood the services will offer “a built-in wallet functionality” so you can store crypto.
PayPal subsidiary Venmo launches first credit card with Synchrony Bank
Venmo will now be able to compete with N26 and Chime in the US market
Uber and Venmo link up for payments
Simplifying the way Uber users can pay with Venmo.
Venmo shines brightly in debit card roll-out
The card’s beta is now closed, and the public roll-out has started.
Amazon eyes PayPal’s crown with Alexa payments platform
E-commerce titan could be taking on Visa, Mastercard and PayPal.
PayPal settles FTC complaints over Venmo vagueness
FTC reaches settlement over allegations that PayPal provided inaccurate payments information to Venmo users.
P2P Is Gaining Steam, but Security Concerns Remain
Consumers prefer to use P2P payments for retail purchases, paying back relatives and friends, and settling bills—but not so much for contributing to group gifts or paying housing costs, according to a new report from NerdWallet. It also found that that while only 35 percent of U.S. consumers use such P2P products as Venmo, PayPal and Square Cash, 63 percent are interested in the payment technology.
Venmo tests physical debit card
Venmo is planning to introduce a physical debit card to supplement its payments app.
PayPal unveils speedier money transfers to bank accounts
PayPal users in the US will soon be able to speed up money transfers to their bank accounts via eligible debit cards linked to their PayPal account. Bill Ready, EVP, COO, PayPal, says it expects that funds “will typically be available in your bank account in a matter of minutes, although some banks may take […]
Who will win the battle for millennials – Zelle or Venmo?
As a Gen Xer, I have always had difficulty relating to the obsessive appeal social media has to millennials. Tweeting and Facebook posting of mundane daily events seemed like over-sharing and just a little narcissistic to me. This is not an intellectual problem of understanding the concepts or technologies, but a kind of generational disparity […]
