“As we get into 2025, it continues to grow in terms of its impact on TM which is really great to see.”

In context

“is open. Trevor Williams: Great. Thanks a lot. I wanted to go back to Venmo. Jamie, it sounded like next to branded, it was one of the biggest contributors to TM dollar growth in Q4. You guys have given some good stats on attach rate and user growth across the different buckets. But it would be helpful if we could get an updated transaction margin dollar number for Venmo. And then anything more just on the current mix of revenue across the different buckets, debit card, Pay with Venmo, Instant Transfer? And then just how you're thinking about Venmo's contribution to transaction margin dollar growth in '25. Thanks. Jamie Miller : Yes. So Venmo has been a growing contributor to transaction margin dollar growth. Certainly in '24, it was behind interest branded checkout, Braintree et cetera. As we get into 2025, it continues to grow in terms of its impact on TM which is really great to see. When you look at -- our Venmo TPV was up 10% in the fourth quarter. Our debit card TPV was up 40%. Pay with Venmo was up 50%. P2P was up 8%. So we are really excited about not only the core P2P continued strength but also just the beginnings of the investments we are making in debit and Pay with Venmo which, when we really dig into this, which is really our new Venmo leaders' target in 2025, we are excited about the growth we can drive. When we get to Investor Day at the end of February, we will unpack this with a lot more detail, and we are looking forward to talking to you all there. Steve Winoker: Alex, any final thoughts? Alex Chriss : No, just a huge thank you to all of you, and thanks, Steve. I look forward to seeing many of you later this month at our Investor Day on February 25, w”