Venmo To Enter Mobile Commerce With In-App Payments Solution

What Happened
Beloved peer-to-peer digital payment app Venmo is preparing to launch a new “Pay with Venmo” service that will let users pay for mobile purchases. Similar to its parent company’s “Pay with Paypal” button frequently featured on ecommerce sites, the new feature is aimed at facilitating shopping and payments in mobile apps. Instead of putting in their credit card information, users will be able to simply log in and pay with their Venmo account. The first two apps getting this Venmo integration are on-demand sports tickets delivery app Gametime and food delivery app Munchery.

What Brands Need To Do
For brands, especially brands that use branded apps as a sales channel, this new mobile payment solution can help remove friction and encourage purchases. Venmo has a fast-growing user base and enjoys well-documented popularity among Millennials. Therefore, brands targeting Millennial consumers on mobile should consider giving this new service a try.


Source: Quartz


Millennials Ditching Cash And Checks For Mobile Payment

Millennials aren’t just cutting cable cords: the newest trend reports indicate that they’re also cutting back on cash withdrawals in favor of mobile payment apps. Venmo, for instance, reported an impressive 62% jump in usage during this year’s first quarter, with a total of $312 million in processed transactions. It is worth noting that currently mobile payment is primarily used in interpersonal transitions between friends, ranging from dinner tabs to splitting rents, which reveals a true missed opportunity that most businesses have yet to embrace.