PayPal formally launches its Venmo debit card
The move is a sign that Venmo will become an even greater driver of PayPal's growth going forward.
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.
According to the Wall Street Journal, Amazon is in the very early stages of a potential banking foray.
Transaction-based revenue was $525 million, up 30 percent year over year. Square also noted that it had more than seven million monthly active Cash App customers as of December 2017.
The company says it grew its active account base by 8.7 million during Q4, ending with 227 million active customer accounts.
Stripe said it will stop accepting Bitcoin as a payment method because of the currency's volatility, slow transaction times and ever-increasing processing fees.