timstockmarket
Oct 7, 11:32 PM
$PYPL The Venmo card is issued by Synchrony Bank, not directly by PayPal. The companies have not publicly disclosed how they divide the rewards expense or associated revenue.
The clever part is the extra 1% for splitting bills. PayPal is effectively rewarding customers for bringing more transactions and social activity into Venmo.
That can create a network effect: more Venmo engagement, more payment opportunities and potentially better monetization.
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