From CNBC: 2025-05-01 20:27:00

Venmo gains momentum as Cash App struggles in the peer-to-peer payments market. PayPal, Venmo’s parent company, reports positive earnings and maintains yearly forecast. Block, Cash App’s parent company, faces stock drop after revenue miss and weak guidance. Both platforms vie for users while expanding services to increase profitability.

Venmo’s revenue grows 20% in Q1, driven by features like the Venmo debit card and instant transfers. PayPal emphasizes improved monetization per user and Venmo’s role in broader e-commerce strategy. Total payment volume rises 10%, with Venmo revenue growing twice as fast. PayPal adds nearly two million new debit card users.

While PayPal CEO Alex Chriss sees success in Venmo’s monetization, Block CEO Jack Dorsey acknowledges Cash App’s underperformance. Cash App posts 10% gross profit growth to $1.38 billion in Q1. PayPal’s gross payment volume falls short of estimates at $56.8 billion. Dorsey aims to enhance network density and promote Cash App as a comprehensive banking platform.



Read more at CNBC:: Venmo gaining ground in payments as Cash App struggles