The news: Next month, PayPal-owned Venmo will introduce new fees and updates to its platform that’ll give users more control over their accounts and add an extra layer of protection for some transactions, per Android Police.
The opportunities: The updates address two persistent issues for Venmo—lingering privacy concerns and elusive profitability.
The big takeaway: Adding enhanced privacy and protection features can help make Venmo more appealing—pushing it closer toward primary wallet status and growing its market share: Last year, Venmo held a 52% share in the US peer-to-peer proximity mobile payments market, per our forecasts. And upping its fees can increase revenues, which can lead to further growth opportunities for PayPal.
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