According to BI Intelligence estimates, Venmo transaction volume reached USD 468 million in the Q2 2014. Thats a 347% increase year-over-year, and an annual run rate of nearly USD 1.9 billion.
Starbucks payment volume reached USD 413 million during Q2, a 73% increase year-over-year.
Venmo allows customers to exchange payments with people in their social circles via their smartphone.
In recent news, Starbucks has revealed that it has 12 million active users of its mobile app in the US and Canada and its customers make six million mobile payments a week — representing more than 15% of all transactions in its US stores.
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