PayPal's social payments platform, Venmo, is opening up its in-app payments feature. Venmo announced in January that it was allowing a limited number of users to pay with Venmo in select merchant apps, but now all Venmo users have access to the "Pay with Venmo" button.
The big perk of paying with Venmo inside merchant apps is the ability to split a bill between multiple people.
To that end, the expansion also includes the addition of 10 service-based merchants, including Poshmark, Boxed, Priv, Hop Market, Wish, Parking Panda, Dolly, Urgentil, and Delivery.com. Gametime and Munchery were the original launch partners for the in-app payments beta.
Venmo has become a growing asset to PayPal and is constantly upping its percentage of PayPal's total payment volume. In PayPal's most recent quarterly results, reported last week, Venmo processed $3.9 billion of TPV, up 141 percent year over year. In PayPal's Q4 report in January, Venmo clocked in $2.5 billion of TPV, which was 2.5 times larger than January 2015 and more than 10 times larger than the year before that.
This latest push for in-app payments should help grow Venmo's payment volume even more. It will also help Venmo figure out whether the buy button is actually resonating with users. For the most part, similar in-app payment buttons from the likes of PayPal and Amazon have proved popular among users, especially for the convenience factor.