200 Million More Friends on Venmo -- Send Money to PayPal Users Around the World

Venmo (PYPL) expanded peer-to-peer reach by enabling Venmo users to send and receive money with hundreds of millions of PayPal users across 90 markets, allowing domestic and international transfers using just a phone number.

Rhea-AI Summary

Venmo (PYPL) expanded peer-to-peer reach by enabling Venmo users to send and receive money with hundreds of millions of PayPal users across 90 markets, allowing domestic and international transfers using just a phone number. Venmo shows conversion rates and fees before completion and is waiving its international fee for a limited time.

The move targets cross-border friction, aiming to reduce app fragmentation and simplify payments between friends, family, and travelers.

Positive

• Access to hundreds of millions of PayPal users across 90 markets
• Phone-number based sending removes routing/account complexity
• Upfront currency and fee transparency shown before transaction completion
• Temporary international fee waiver to encourage adoption

Negative

• Fee waiver is limited-time, implying future cross-border charges may apply

Argus Mar 23 session

+3.36% close to close Open Argus

Details

News Market Reaction – PYPL

On Mar 23, the day this news came out, PYPL closed 3.36% above the previous close.

Data tracked by StockTitan Argus for the Mar 23 session.

Key Figures

Markets connected: 90 markets Survey sample size: 2,000 Americans Users favor single global app: 59% +5 more

Markets connected

90 markets

Venmo users can send to PayPal users across 90 markets

Survey sample size

2,000 Americans

Number of Americans surveyed across generations

Users favor single global app

59%

Payment app users who would stop other apps if one worked globally

App switching to pay back

49%

Respondents who had to download or switch apps to pay someone

Forgotten repayments overall

30%

Respondents who forgot to pay someone back due to app mismatch

Forgotten repayments Gen Z

52%

Gen Z respondents who forgot to pay back without right app

Cross-border gifting

41%

Americans who send money or gifts to friends and family abroad

Travelers valuing same app

77%

Those who traveled/lived abroad saying same payment app is important

Historical Context

5 past events · Latest: Mar 19

5 events

1. Mar 19

   Securities action

   24h Move

   -0.9%

   Headline on CEO and CFO facing personal liability in securities action.

2. Mar 17

   Product expansion

   24h Move

   +1.6%

   Launch of PayPal USD stablecoin access across 70 international markets.

3. Mar 12

   Class action

   24h Move

   -2.7%

   Class action lawsuit announcement with an investor deadline highlighted.

4. Mar 12

   Securities action

   24h Move

   -2.7%

   Repeat securities action headline citing executive personal liability.

5. Mar 05

   Market reassessment

   24h Move

   +1.9%

   Wall Street reassessment following a prior 20% share-price drop.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

peer-to-peer payment, currency conversion rates

2 terms

peer-to-peer payment financial

"Venmo today announced a major expansion that brings the app's peer-to-peer payment experience"

A peer-to-peer payment is a digital transfer of money sent directly from one individual to another using a phone app, website, or payment service — like handing someone cash but done electronically. Investors care because these transfers drive user growth, transaction volume, and recurring fees for payment platforms while shaping competitive positions, data value and regulatory risk in the broader financial ecosystem.

currency conversion rates financial

"All transfers include transparency to the sender of currency conversion rates and any applicable fees"

Currency conversion rates are the prices at which one nation's money is exchanged for another's, set by markets or banks much like the price tag you see when swapping goods. For investors, these rates affect the value of foreign assets, earnings and costs — similar to how the exchange rate at checkout changes how much you actually pay when buying the same item in another country — so shifts can change returns, risks and competitiveness.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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New connection expands Venmo's reach to PayPal's global network and makes it seamless for Venmo and PayPal users to pay one another without friction

SAN JOSE, Calif., March 23, 2026 /PRNewswire/ -- Venmo today announced a major expansion that brings the app's peer-to-peer payment experience to a global audience for the first time. Through new connectivity with PayPal, Venmo users can now send and receive money with hundreds of millions of PayPal users across 90 markets, marking the largest expansion of Venmo's addressable market since the app's launch. Venmo users now have access to one of the world's largest peer-to-peer payment networks. This directly addresses a common frustration with peer-to-peer payments: app fragmentation has made sending money between friends and family more complicated than it needs to be.

Consumers can now move money between friends and family domestically and internationally using just a phone number. There's no complex account details or routing numbers required. For Gen Z, who are nearly twice as likely as the average American to send money internationally every month, this means the app they already rely on to split the dinner bill now works just as seamlessly for paying someone halfway around the world. Whether splitting a vacation rental with friends abroad, sending money to family overseas, or paying back an international contact, the new connection offers the same simplicity and ease as Venmo's core experience.

"Venmo and PayPal have each become a trusted part of how people send and receive money – Venmo as the way friends split, share, and connect over everyday spending, and PayPal pioneering the global standard for cross-border money movement," said Diego Scotti, General Manager, Consumer Group at PayPal. "By bringing these two ecosystems together, we're making it seamless for Venmo and PayPal users to pay one another without friction or borders. It's about meeting people where they are and delivering simple, secure ways to move money in the moments that matter most, no matter what your preferred app is."

Expanded Utility Without Added Complexity
The integration maintains Venmo's intuitive user experience to send money to PayPal users in the US and internationally. Venmo users can simply:

• Search by phone number: Enter your recipient's full phone number in the search bar. The app will surface their PayPal account if they have one linked to that number and are searchable via the user's privacy settings.
• Enter the amount: Choose the amount you want to send in US dollars. Venmo automatically shows the amount your recipient will receive in their preferred currency.
• Add a payment note and send: Personalize your payment with a message and hit send.

All transfers include transparency to the sender of currency conversion rates and any applicable fees before the transaction is completed, and recipients have visibility into the sender on Venmo, the amount of money received, including in what currency, and the payment note. To introduce users to the simplicity of global payments, Venmo is also waiving its international fee for a limited time.¹

Americans Want Money to Move as Easily as Their Lives Do
The announcement comes as new survey data commissioned by Venmo shows 59% of payment app users would stop using other apps if one allowed them to seamlessly send money to friends and family globally. Among 2,000 Americans surveyed across generations, the findings highlight a clear gap: money moves across global, cross-generational social circles, but today's fragmented tools make it harder to settle up quickly and easily.

The fragmented payment app landscape is making it harder to pay friends back.

• Nearly half (49%) say they've had to download or switch apps just to pay someone back.
• Nearly one third (30%) have forgotten to pay someone back entirely because they didn't have the right app. That's especially true for over half (52%) of Gen Z.

The need for seamless payments extends well beyond U.S. borders.

• 41% of Americans send money or gifts to friends and family who live in another country, with almost half (42%) of Gen Z doing so at least once a month.
• Of Americans who have traveled or lived abroad in the past three years, 77% say it's important to use the same payment app they rely on at home, with millennials feeling this most strongly (88%).

Intergenerational money support experiences the same pain points.

• An overwhelming 82% of those who send money across generations say using the same payment platform would make financial support both easier and faster.
• One in five Americans has delayed or avoided sending money to a family member due to differences in preferred apps or platforms.

The new integration between Venmo and PayPal aims to address these pain points by delivering a trusted, seamless payment experience across apps, borders, and generations.  Together, the two platforms form one of the largest peer-to-peer networks in the world, ensuring that for hundreds of millions of users, money can move as fast as their lives do.  

For more information, go to: https://venmo.com/send-receive/paypal-users.

About Venmo
Venmo is the go-to money movement app of the next generation, offering fast, safe, and social payments. With best-in-class experiences for users to send, split, shop, and sell, Venmo enables a seamless flow of money between the people and places that matter most to millions of users across the United States. For more information, go to: Venmo.com.

DISCLOSURES

1 Venmo will waive international fees through 8/24/26.

To find and pay eligible PayPal or Venmo accounts, search by full phone number on your Venmo or PayPal app.

Not available in all regions where PayPal operates.

Research Methodology: Venmo commissioned Talker Research, an independent creative market research agency, to run an online survey of 2,000 adults in the United States. The fieldwork took place between February 13 and February 23, 2026.

CONTACT: press@venmo.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/200-million-more-friends-on-venmo--send-money-to-paypal-users-around-the-world-302721542.html

SOURCE PayPal Holdings, Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Venmo's March 23, 2026 expansion mean for PYPL shareholders?

Venmo now connects to PayPal users in 90 markets, increasing addressable network reach. According to Venmo, this adds access to hundreds of millions of PayPal users, potentially expanding transaction volume and cross-border activity for PayPal's consumer payments franchise.

How can Venmo users send money to PayPal users internationally after the March 23, 2026 update?

Users can send via the recipient's full phone number and pay in US dollars. According to Venmo, the app shows conversion rates and any applicable fees before completion, and recipients see amount, currency, and the payment note.

Does Venmo charge an international fee for PayPal transfers after the March 23, 2026 launch?

Venmo is waiving its international fee for a limited time to introduce global transfers. According to Venmo, the waiver is temporary, and all transfers still display currency conversion rates and any applicable fees before completion.

Which markets and user base does Venmo reach with the new PayPal connection (PYPL)?

The integration spans 90 markets and connects to hundreds of millions of PayPal users worldwide. According to Venmo, this creates one of the largest peer-to-peer networks, enabling cross-border person-to-person payments without app switching.

How does Venmo's update address payment app fragmentation cited in the March 23, 2026 announcement?

The update allows Venmo and PayPal users to pay each other using only a phone number, reducing the need to download multiple apps. According to Venmo, this aims to cut friction caused when friends and family use different payment platforms.