Venmo, a mobile payment service operated by PayPal, is expanding its use to millions of stores nationwide. Customers can now use their Venmo account to shop and make purchases on their mobile phone at more than two million U.S. retailers, almost everywhere PayPal is accepted.
Venmo is a leading mobile app that has changed the way whole generations think about money by making payments between friends a fun, social experience. Since early last year, the service has been slowly introducing the ability to pay select businesses with Venmo. It started with in-app purchases with a curated list of merchants through the Braintree platform.
Now, the service is dramatically expanding the number of places you can use Venmo to pay by leveraging the scale of the PayPal merchant network.
For merchants, the ability to offer Venmo as a payment option at checkout is very appealing. With Venmo, merchants can reach a new audience of shoppers, many whom skew millennial and engage with Venmo multiple times throughout the day. And the Venmo social feed represents an entirely new way for merchants to increase awareness and open new purchase opportunities. The appeal of Venmo has prompted some of the largest and most influential U.S. merchants to expand existing or begin new processing relationships with PayPal.