Venmo exceeds Starbucks in terms of US transaction volume

Tuesday 2 September 2014 07:34 CET | News

During Q2 PayPal-owned mobile payment app Venmo overtook the international coffee chain Starbucks mobile payment app in terms of US transaction volume, recent findings indicate.

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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Keywords: Venmo, Starbucks, US transaction volume, mobile payment app, mobile payments, US
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce