Venmo announced accelerated expansion of its commerce capabilities introducing benefits for customers to use their Venmo balance for everyday purchases and earning enhanced rewards with the Venmo Debit Mastercard.
Venmo's revenue grew 20% year-over-year with increased usage for Pay with Venmo and monthly active accounts up by 30%.
Venmo has introduced new cash back offers with its debit card for brands like Sephora, Walmart, Lyft, McDonald’s, and Walgreens, and added features like Tap-to-Pay and international usage.
Venmo has expanded its presence for in-app and online payments at various brands and launched a brand campaign featuring Aimee Lou Wood and Patrick Schwarzenegger to promote the Venmo Debit Card and checkout with Venmo.