By Patrick Kulp
Venmo’s rapid growth isn’t showing any signs of slowing down.
As mobile payments as a whole struggle to gain widespread traction, the amount of money exchanged on the Paypal-owned app doubled last quarter from the same period last year.
The app’s total transaction volume reached $6.8 billion in the last three months, according to Paypal’s earnings call Wednesday.
Paypal had an otherwise rosy quarter as well, reporting one of its best performances since splitting from Ebay two years ago.
Venmo is also starting to answer some nagging questions analysts have had about its future — namely, how will it make money? Read more…
Source: Mashable Business