Quotes About Venmo

Merchants are eager to tap into the millennial Venmo shopper.

The blockchain is to money what SMTP is to email. It's an open way to move value around. Every existing player in this space - not just Venmo but also Google and Facebook and others - are all closed; they all want to work just within their own walled garden.

What we want to do to monetize Venmo is to add more and more capabilities. Anywhere you see a PayPal merchant, you can click on that button and actually use your Venmo account to check out at that merchant. Then we'll monetize that transaction exactly the same way we monetize a PayPal transaction.

PayPal exists because banks are not interoperable: I can't efficiently pay you $10 unless I'm giving you a $10 bill. So we're all on PayPal and Venmo, I need interoperability on the same ledger.

Monetizing by creating more value for a Venmo user makes a ton of sense to me. But other forms of monetization that are more intrusive, like in advertising or something like that, the jury is really still out for me.

Our strategy is to provide even more value to users and tie the Venmo community into the PayPal merchant marketplace so that they can use Venmo to buy things.

We'd love to see a world where Venmo added support on the blockchain, then a Circle customer could pay a Venmo customer using their QR code or their blockchain address - and go between those instantly and for free.