Mobile Payments App Venmo to Provide Merchants Ways to Reach Highly Social Millennials via its

January 23, 2021

News Highlights: Mobile Payments App Venmo to Provide Merchants Ways to Reach Highly Social Millennials via its.

The team at Venmo, a mobile payment service created by PayPal, notes that their platform began as a social peer-to-peer payment tool for friends and family members to share their meal or share an “unforgettable experience.”

The Venmo team confirms that several years ago they extended the use of their platform to the merchant community, giving them the option to choose Venmo at checkout to “create a fast, simple and seamless experience”.

Venmo management also said that during this time the community has grown to more than 65 million consumers who are interested in making Venmo “a bigger part of their daily spending.” For sellers looking to engage with Venmo’s ‘highly social and engaged audience’ and discover a way to beat the competition, the time has ‘never been better’ based on general demand, current market conditions and growing customer interest in transactions with the Venmo app, the company claims.

Recommended

A recent survey of Venmo customers shows that nearly half or 47% of customers want to use Venmo as a payment method when checking out with merchants (ranging from merchants in everyday spending categories such as groceries to providers of clothing, shoes and fashion wear). The data and related survey found that nearly 90% of customers “prefer to pay with Venmo because they trust the brand, it’s easy to use, and because it allows them to split transactions.”

Such as noted in a Venmo blog:

“Another benefit for merchants is access to Venmo’s growing millennial customer base. Millennials are a hugely important audience as they are quickly becoming the dominant population, especially in the US, with the most spending potential. According to data released by the Census Bureau earlier this year, more than half of the country’s total population is now Millennials or younger. When we look at the Millennial and Gen Z populations together, they came to 166 million consumers. “

Venmo further notes that millennials are a major demographic of social media networks. Of the Venmo customers surveyed, about 53% said they spend more time on social media apps such as Facebook and Instagram since the start of the COVID-19 pandemic and “most expect to continue their current level of use of social platforms in the next six months.” Venmo aims to provide merchants with a way to “reach this highly social audience through the Venmo social feed, rewards, payouts and more.”

More than 2 million merchants currently offer customers the option to pay through Venmo during checkout. Vendors such as Lyft, Uber, TicketMaster, StitchFix, StockX, Hulu, Pottery Barn, Freshly, Amtrak, and GoPuff are now part of the Venmo community.

(Note: In October last year, the Venmo team had completed a survey of 2,217 US Venmo customers to get “a real-time account of how their demographic, financial and purchasing behavior has changed over time and how Venmo can help them adapt to the new normal. ”The survey was“ administered through Focus Vision. ”The responses are“ weighted to ensure representation of the Venmo population based on age, income and regional distribution across the US “)

Via: www.crowdfundinsider.com

Check the latest Phone news updates and information.
Please share this news Mobile Payments App Venmo to Provide Merchants Ways to Reach Highly Social Millennials via its with your friends and family to support us your one share helps us a lot.
Follow us on Facebook and Twitter if you need more updates like this.

Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News

Latest Headlines

Show all
Trending News
Popular By week

Review: X-Chair X3-HMT ATR management chair

Complete growth overview on Smart Handheld Ultrasound Scanners Market in 2020-2024 including top key players, Trends, Emerging Growth Factors

February 24, 2021

News Highlights ...

Here’s What Twitter Is Saying About The Jennie And G-Dragon Dating Rumors

Show next

Best 10 Guide by Compsmag

Best Pizza Maker In India February 23, 2021
Are you looking for the Best Pizza Maker in India? To cook frozen or fresh pizzas, you absolutely must have a pizza-making of high quality, ergonomic and durable. Lately, pizza making has become even easier because of the large number of pizza makers on the market. Despite the growing number of these articles, you must […]
Mohit
5 Important Things You Should Know About Facebook #Hashtags February 23, 2021
Things You Should Know About Facebook #Hashtags – We all know Fb has hashtags but should they be part of your Facebook marketing strategy. Its first use in 2007, #hashtags have become one of the most useful tools in social media. Many companies and marketers have invested in hashtags to take in the new customer as […]
Compsmag Team
Best Premium WordPress Themes Responsive February 23, 2021
Are you looking for the best Premium WordPress themes responsive of 2021? Here is a big collection of best, Responsive, Premium WordPress themes for WordPress users to boost up your project or personal blog. Today, WordPress is the most powerful and uses a CMS(Content Management System) in the online world. Apart from this, WordPress also […]
Sumit Chauhan
Best Action Cameras February 22, 2021
Choosing the Best Action Cameras can be tricky. Hundreds of action cams are available, ranging from crammed 4K action cameras to cheap budget options. So what is The Best action camera for you – and what features do you need? The longer answer, however, is that the right option depends on what you want to use […]
Mayank Bhardwaj
Best Cameras For Portraits February 22, 2021
The Best Cameras For Portraits can be DSLR, a mirrorless camera, or even a camera phone. DSLRs and mirrorless cameras have interchangeable lenses and large sensors for top quality and background blur, but camera phones now offer exciting digital ‘depth modes’ that can work well to simulate the background blur of a larger camera. Does […]
Mayank Bhardwaj
Best Wireless Charger of 2021 February 22, 2021
Are you looking for the Best Wireless Charger of 2021? The wires are such a mess! Everyone thinks the same thing. However, sons are an integral part of our lives. We have to charge our phones with wired chargers. The advent of wireless chargers was like a dream come true. Is not it great? Finally, […]
Mohit
Best Custom ROM For Rooted Android February 21, 2021
Best Custom ROM For Rooted Android: Today Android rooting is a very typical process for the users that are using this smartphone. Many of you’ve rooted your Android device and try many cools apps in your rooted Android. But you can do much more with them that’s installing custom ROM’s. As we know custom ROM […]
Compsmag Team
The Best iPad Games of 2021 February 20, 2021
Best iPad Games of 2021 – Are you looking for the Best games for iPad? You have come to The Best place. The App Store has so many excellent games to play but is often overwhelming with the amount of choice, making it tricky to separate the high from the garbage. Luckily, Compsmag loves playing games, so we’ve rounded […]
Mohit
The Best FireStick Settings You Should Know and Change Right Now January 29, 2021
The Best FireStick Settings You Should Know and Change Right Now Tutorial and Steps So here we discuss the The Best FireStick Settings You Should Know and Change Right Now, and after a lot of requests from our users here is a guide about The Best FireStick Settings You Should Know and Change Right Now. […]
Geek Techy
21 Boredom-Busting Websites That Will Entertain You Forever January 29, 2021
Boredom-Busting Websites – Bored with the identical outdated websites? Searching for some new corners of the Internet to get you fired up with enthusiasm? Well, you are in luck. Right here at Ink Tank, we get a kick out of unearthing & then sharing the most effective of the web, from websites that make you […]
Sumit Chauhan

Mobile Payments App Venmo to Provide Merchants Ways to Reach Highly Social Millennials via its

News Highlights: Mobile Payments App Venmo to Provide Merchants Ways to Reach Highly Social Millennials via its.

For Latest News Follow us on Google News

Review: X-Chair X3-HMT ATR management chair

Making it personal

Choetech True Wireless Earbuds review: Decent budget option

Symbio is working with Toyota and Nissan to increase robotic assembly efficiency

Wizardry or engineering? How a local professor uses Harry Potter to shine a light on the profession

Iredell Board of Elections demonstrates new election software, equipment

Kuebler’s New generation of PROFINET IO encoders Sendix F58 as singleturn and multiturn variant

DOJ could look into cybersecurity fraud at government technology providers

Seeing Is Believing: Why Visual Search Works

Google Pixel foldable phone may come in 2021, but don’t expect it to replace Pixel 6

Hackers tied to the Russian GRU targeted the US net for years, researchers warn

Russian Hacking Group implements IronPython Malware Loader

Students react to changes made for Lockdown Browser

Facebook and Instagram ban Myanmar military as first pro-coup rally takes place

Complete growth overview on Smart Handheld Ultrasound Scanners Market in 2020-2024 including top key players, Trends, Emerging Growth Factors

Here’s What Twitter Is Saying About The Jennie And G-Dragon Dating Rumors

N4 Feonix Mobility Rising

North America telecoms industry news and events

Unearthed Vintage Stereo Ad Is the Most ’80s Thing Imaginable

HSN’s Discovery Days Sale Means Unbelievable Deals on Dyson, Nutribullet & Robot Vacuums

Best 10 Guide by Compsmag

Popular Blog and Tutorial Tips