But now they’re picking up steam for other applications-including bill payments and igaming deposits. Consumers Want More Mobile Payment OptionsĬonsumers have been using PayPal for secure ecommerce transactions and Venmo for peer-to-peer transactions for years. What does this mean for businesses that aren’t currently offering these payment types? Answer: they could be at risk of ignoring consumer preferences. Venmo, which is owned by PayPal, processed $159 billion in total payment volume in 2020. In 2020, 15.4 billion transactions were completed on PayPal, accounting for $936 billion in transaction volume. Consumers continue to request more mobile payment types to make payments faster and easier across industries, and PayPal and Venmo are some of the most well-known. PayNearMe is excited to announce the availability of PayPal and Venmo payments for both its bill pay and MoneyLine™ products.
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