Venmo's new fees can bring it closer to profitability

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July 3, 2021

Venmo plans customer account changes, including increased security and higher fees.

PayPal-owned Venmo will introduce new fees and updates to its platform that'll give users more control over their accounts and add an extra layer of protection for some transactions.

The updates address two persistent issues for Venmo—lingering privacy concerns and elusive profitability.

Adding enhanced privacy and protection features can help make Venmo more appealing—pushing it closer toward primary wallet status and growing its market share.

Insider Intelligence's Adriana Nunez has the full story.

BRIEFING HIGHLIGHTS

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Binance banned from carrying out regulated activities

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Over half of US crypto owners just want to feel included

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TD Bank looks to jump on the no-overdraft bandwagon

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Shopify debuts new payment and design tools to reel in sellers

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Almost 75% of BNPL users in the US are Gen Z or millennials

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Chime leads digital-first banking apps in downloads in H1 2021

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RESEARCH IN FOCUS

Account Opening in the Next Normal

Bank account opening is bouncing back after a slump during the coronavirus pandemic, and digital account opening (DAO) activity in particular is poised to benefit from the surge. We examine the status of digital account opening—focusing primarily on deposit accounts—and what the trajectory of DAO will look like over the next few years for incumbent banks and digital challengers.

Get the full report →

Small-Business Payments Disruptors

Service providers focused on areas like payments, ecommerce, and lending are challenging the financial services sector for its longtime relationships with small businesses. In this report, we look at why service providers are moving into financial services, and what approach the top providers are taking.

Get the full report →

The Payments Ecosystem

Insider Intelligence examines the payments ecosystem today, as well as the pandemic's impact on growth drivers and the industry's future. The report traces the path of in-store and online payments from processing to settlement across key stakeholders.

Get the full report →