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But regardless of what happens with this lawsuit, Zelle鈥檚 continual fraud concerns may lead to longer-term reputational issues鈥攑ushing users to competitors like Cash App or Venmo. We expect the number of Zelle users to total 96.6 million in 2025, per our forecasts.

That鈥檚 why PayPal, Venmo, Cash App, Apple Pay, Google Pay, and Samsung Pay are quickly introducing novel features鈥攐r quickly copying ones from competitors. The pace of commerce management feature innovation is reaching a frenzy. Six months ago, we identified four emerging features that digital wallets could add to centralize purchasing within consumers鈥� wallets of choice:.

It can help Google build brand loyalty among Gen Alpha and better compete with Apple Wallet

Venmo. Visa. Western Union. Wise. Zelle.

Fraud concerns aren鈥檛 slowing down the P2P player as its growth outpaces peers

Cards also help online payment brands like PayPal, Block, and Venmo make in-store inroads. Affirm users can even upload virtual cards into Apple Pay and Google Pay to pay in-store鈥攁 workaround for when Affirm is not accepted at checkout. Payment providers can help improve the payer experience in ecommerce鈥攁nd especially mcommerce.

This disruption affected services like payments, withdrawals, express checkout, cryptocurrency transactions, Venmo, and Xoom for thousands globally. Users reported difficulties logging in, sending or receiving money, and accessing linked bank accounts. Merchants encountered increased HTTP 500 errors during REST API calls, hindering payment processing and potentially losing revenues.

And alternative banking services like PayPal, Cash App, and Venmo have allowed customers who may not have qualified for bank accounts鈥攐r who have felt intimidated by account-opening processes鈥攖o use basic banking services. What this means for banks: Account opening growth will remain stagnant over the next few years, in part due to the shrinking unbanked population.

What鈥檚 more, PayPal will automatically opt in PayPal and Venmo users to the FMN, while Chase users must actively choose to opt in. Strengths. The scale of PayPal鈥檚 transaction data is unmatched: It will boast over 217 million core users by next year, per our forecast. It鈥檚 also granular, with SKU-level data from its 35 million merchant relationships.

Making Venmo profitable. One tool PayPal is using is the Venmo Debit Card. In Q3, monthly active debit card accounts grew 30% YoY. But that鈥檚 just 5% of active Venmo accounts, showing room for growth. We forecast US Venmo users will total 76.4 million in 2025. PayPal is also monetizing the P2P app with Pay with Venmo.

And for reward redemption, the brand recognizes member feedback with options including cash payouts via Venmo or PayPal and gift cards from Amazon, Target, Walmart, and Visa. Consumers seek a smoother path to rewards and expanded options for redemption.

PayPal owns Venmo. Venmo has so much data. I wonder if in the future we're going to see PayPal do anything with Venmo, serving ads on Venmo, serving ads through data on Venmo, finding ways to codify the different emojis people put in their Venmo payments as descriptions of what they are buying to get actual insights from it.

More discounts: While TikTok Shop is yet to announce its Black Friday plans, it is rolling out exclusive deals that shoppers can access in the back half of the Cyber Five (November 30 to December 2)鈥攑rovided they choose Venmo as their checkout method. First-time TikTok Shop buyers will get a 25% discount on purchases of $45 or more, and up to $20.

You know what, I think that when Zelle was first launched, everybody said they missed the window and Venmo is going to, they lost the opportunity and I don't think that's the case. Zelle's quite strong. David Morris:. Oh, I agree. I think there's tremendous possibility here. They're just getting started. Rob Rubin:. Yeah.

Their digital fluency means they prioritize a good app experience that includes popular payment methods like Venmo, PayPal, and Apple Pay. Educate Gen Zers about the purpose of insurance. Only 26% of Gen Zers have functional knowledge about the value of insurance, per a January 2023 TIAA Institute survey.

PayPal has also tried to grow Pay with Venmo to monetize the peer-to-peer (P2P) app. Our take: Cash App Pay already has a long way to go to catch up to established competitors like PayPal, but the crowded field of buy buttons will make it even harder for Cash App Pay to gain significant adoption.

The tie-up can bring in a large new stream of payments volume for the BNPL player, boosting growth ahead of going public next year

The market is set to change with open banking: The Consumer Financial Protection Bureau鈥檚 (CFPB) final rule on open banking will require financial institutions (FIs), credit card issuers, nonbank mortgage companies, and payment apps like Venmo and Apple Pay to transfer consumer financial data to other providers for free on request.