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It wants to be a one-stop shop for payments and commerce and to better compete with other digital wallets like PayPal and Cash App, which both also have crypto integrations. This move may also foreshadow a larger push into crypto from payment providers as they ready for the asset class to take off under President Donald Trump.

To that end, it also upgraded the PayPal Debit Card and brought PPCP to new markets. Our take: This partnership with Bold Commerce helps PayPal make progress towards these goals. The Canada-based checkout platform boasts a customer base of 90,000 brands across 170 countries.

Currently, users need to leave Reddit and use apps like Venmo or Paypal to complete any transactions. Huffman said the fact that users are already transacting on Reddit lays the foundation for ecommerce options. Those tools, which would let users make in-platform transactions, are in development but are a 鈥渓ittle ways off,鈥� he added.

Cash App, PayPal, and Venmo let users pay in-store with QR codes, but that has not spurred widespread in-store use. Forging partnerships with mobile proximity payment leaders could help. PayPal and Venmo cardholders can now transact through Apple Pay, and Venmo cards and PayPal accounts are now supported in Google Wallet. Apple Pay leads on engagement and features鈥攂ut regulation looms.

But in spring 2024, financial titans Chase and PayPal each launched one, positioning FMNs as an industry game changer. Growing demand and regulatory clarity will encourage more FMN launches this year. Advertisers will need more first-party data, thanks to ad targeting restrictions from the American Privacy Rights Act and Google鈥檚 ongoing changes to how it handles third-party cookies on Chrome.

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:.

The P2P player was able to make this pivot thanks to the success of its integration in banks鈥� apps, which currently lead to 98% of its transactions

PayPal. PYMNTS.com. The Points Guy. TikTok. US Census Bureau.

PayPal. Stripe. TikTok. Visa. Worldpay.

In seven charts, this report tells the story of some of the most critical trends that digital leaders need to know about in 2024 and beyond.

What it means for Venmo: This tie-up can help PayPal monetize Venmo. The average revenues per account that uses Pay with Venmo are roughly three times that of all Venmo accounts, per PayPal鈥檚 Q3 earnings. The payments giant has been working to grow its merchant acceptance network and volume鈥攕coring partnerships with retailers like eBay and StubHub.

Peer-to-peer payments are a strong use case for crypto payments, which is why PayPal offers it with its stablecoin as well. Bank of America CEO Brian Moynihan said the US banking industry is ready to embrace crypto payments when the proper regulations are put in place. Our take: Using $TRUMP as a payment method likely won鈥檛 take off beyond Trump-branded products given the crypto鈥檚 volatility.

The bigger picture: PayPal launched PYUSD in August 2023. Customers can use the stablecoin for P2P payments between PayPal, Venmo, and third-party wallets and for fee-free remittances via Xoom. While PayPal has not released any of its own data on the stablecoin, so far, adoption seems to be minimal. PYUSD鈥檚 market cap is $503.23 million, per CoinMarketCap, making it the seventh-largest stablecoin.

The president鈥檚 appointment of venture capitalist David Sacks, Elon Musk鈥檚 PayPal associate, as his crypto-AI czar indicates a shift toward looser regulation and a pro-business stance on AI. It could also favor companies like xAI while challenging market leader OpenAI.

US digital commerce platforms will process $471.37 billion of their own payments by 2026. As a result, they鈥檒l enjoy stronger customer relationships, added revenues, and cross-sell synergy.

The BNPL provider has made strong inroads in the US but faces steep obstacles in growing its market share

The BNPL player鈥檚 revenues doubled in Q4 thanks to users鈥� more frequent purchases

Verticals outside of retail, such as financial services (e.g., Chase, PayPal) and travel (e.g., Lyft, Expedia), are increasingly leveraging their first-party transaction-based data to launch media offerings of their own. Non-endemic advertising is a natural fit for sectors that have access to purchase-based data but don鈥檛 sell products directly to consumers.

As Taylor Haney of NPR explains, three former PayPal employees launched YouTube.com two decades ago. Originally intended as a dating website, he explains that the co-founders, Steve Chen, Chad Hurley, and Jawed Karim struggled to attract users, so they created YouTube's first video themselves titled Me at the Zoo. It wasn't long before the platform exploded in popularity.

That could mean that consumers鈥� preferred financial hub will be owned by the likes of Apple or PayPal, rather than Chase or Bank of America. Becoming distributors could offer incumbents revenue opportunities despite the competition. They provide many services that nonbank rivals cannot independently offer, ensuring continued revenues through API avenues.