Venmo mobile payments app goes live in US
Venmo will now allow its customers to shop and pay on mobile phones at more than two million US retailers.
Customers can shop at PayPal accepted stores such as Lululemon, Forever 21 and Foot Locker with balance in the app or linked credit card, debit card, or bank account.
They will receive notification through the app to activate the option and will also get notification of purchases in the app. The app will also allow the users to split online purchases with friends.
Customers will also be able to transfer funds instantly to bank accounts via debit cards, providing access to funds faster than ever before for just $0.25 per transfer.
The firm also plans to expand Venmo on the Braintree platform with support for mobile web payments, in addition to those made in-app.
PayPal chief operating officer Bill Ready said: “Offering a way to pay at millions of retailers is a major step in the evolution of Venmo.
“Our vision for Venmo is to not only be the go-to app for payments between friends, but also a ubiquitous digital wallet that helps consumers spend wherever and however they want to pay, regardless of device.
“Through 2017 and beyond, we will continue to evolve the payments experience that has helped make Venmo a cultural staple, while also applying that same magic to split, share and pay in new ways.”