“In the second quarter, we launched push provisioning of the Venmo debit card to Apple and Google wallets and continued to enable Pay with Venmo with more merchants and partners, including eBay and StubHub, which we expect will continue to fuel this growth.”

In context

“uffered declines through 2023, but over the past few quarters we have seen an improvement driven by product enhancements such as new global withdrawal capabilities, better risk decisioning, and more cross-border activity. We will continue to invest in our experiences, pricing, and marketing to drive enhanced awareness and engagement. Turning to Venmo, we are building on the business’s strong market position. In the second quarter, Venmo processed more than $73 billion in total payment volume, growing 8% year-over-year. With monthly active, increasing 5% year-over-year, to nearly 62 million. Both a strong base of peer-to-peer users and adoption of our ecosystem of products are driving this growth. For example, both Venmo debit card and Pay with Venmo monthly actives grew approximately 30%. In the second quarter, we launched push provisioning of the Venmo debit card to Apple and Google wallets and continued to enable Pay with Venmo with more merchants and partners, including eBay and StubHub, which we expect will continue to fuel this growth. Our recently launched Venmo Teen Accounts is showing encouraging early traction, expanding our addressable market, and helping us build lifelong relationships with customers from an early age. What excites me most about Venmo is that we are only scratching the surface of its potential, starting to drive customer-led, profitable innovation, and we see substantial headroom for growth. Said simply, Venmo is primed for growth. Finally, consumers who love PayPal for online purchases are also telling merchants they want to use PayPal for their offline purchases. We continue to drive the adoption of our card products, and we're making it easier to add PayPal and Venmo branded cards to Apple and Google wallets on mobile devices. We are also looking forward to launching even more ways for consumer”