PayPal beats Q3 earnings targets
PayPal ended the quarter 254 million active accounts, up from 218 million the year prior.
PayPal ended the quarter 254 million active accounts, up from 218 million the year prior.
The company disclosed the updated figure with its second quarter financial results, which beat estimates.
Stripe is primarily targeting marketplaces and other large, technology-oriented companies with the service.
The San Jose, Calif.-based payments company reported a net income of $526 million, or 44 cents per share.
The move is a sign that Venmo will become an even greater driver of PayPal's growth going forward.
The company also announced that it's raised $50 million in new venture capital from Silicon Valley investors, including PayPal cofounders Peter Thiel and Max Levchin.
PayPal held its bi-annual investor day on Thursday and outlined key points of its growth strategy as its rivalries with Square and Amazon heat up.
Intuit has also raised its guidance for the fiscal year.
The company posted a Q1 net loss of $24 million, or six cents a share, compared to a net loss of $15.1 million, or four cents a share, a year earlier.
The payments company released the latest user figures inside of its first quarter financial report.