Venmo has announced an expansion that enables its peer-to-peer payment service to connect with PayPal, allowing users to send and receive money with PayPal accounts across more than 90 markets.
The move significantly broadens Venmo’s reach and links it to one of the largest global payment networks.
The integration aims to address fragmentation in peer-to-peer payments, where users are often limited by platform compatibility.
With the update, Venmo users can transfer money domestically and internationally using a recipient’s phone number, without requiring bank details or routing information.
Users can search for a recipient by entering their phone number, after which the app identifies any linked PayPal account, subject to privacy settings.
Read more: https://fintechnews.ch/fintechusa/venmo-paypal-global-cross-border-payments/82661/
