“I expect more demographic-relevant merchants to offer Pay with Venmo over the coming quarters.”

In context

“transactions. BNPL is featured our latest marketing efforts with Will Farrell about PayPal’s flexible online checkout, and we are focused on winning in key markets. We will continue to lean into BNPL throughout this year with targeted consumer awareness campaigns in the U.K. and Germany and continued investment in other priority global markets, including Australia, France, Italy and Spain. Pay with Venmo is resonating well with consumers and merchants and is growing rapidly, with TBV increasing more than 50%. Monthly active accounts grew 30% as we increased merchant availability. For example, in January JetBlue became the first airline to accept Venmo for bookings. We’re seeing strong selection from Venmo’s valuable demographic at major brands such as Dominoes, Instacart, and TikTok Shop. I expect more demographic-relevant merchants to offer Pay with Venmo over the coming quarters. Let’s move to the progress we are making to become omnichannel, serving our customers everywhere they want to shop with PayPal and Venmo. As I noted earlier, branded experiences TPV grew 8% in the quarter, excluding last year’s leap day. This growth reflects our strategy to deliver flexible and rewarding experiences that connect consumers to the things and experiences they want and love wherever they shop. Today, our PayPal and Venmo debit cards are enabling our customers to use their balance to shop anywhere cards are accepted. Adoption is strong and growing with approximately 2 million first-time PayPal and Venmo debit card users in the quarter, an increase of nearly 90% from last year. Debit card TPV grew approximately 64% in the first quarter. Venmo debit card monthly active accounts”