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Venmo

Banks want in on digital wallets — and the consumer data that comes with them

by Stephanie Hughes
Jan 23, 2023
Seven banks, including Wells Fargo and Capital One, are launching a competitor to services like Apple Pay and PayPal later this year.
Banks are slated to unveil a new digital wallet later this year, aimed at competing with services like Apple Pay.
Duane Prokop/Getty Images for MasterCard
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The IRS delays a tax-reporting rule for peer-to-peer apps. Freelancers are relieved.

by Savannah Maher
Jan 17, 2023
Peer-to-peer apps have become a lifeline for small businesses. But many formerly under-the-table cash transactions now leave a digital trail. 
Small businesses that use peer-to-peer payment services like Cash App or Venmo and take in more than $600 will receive a 1099 form starting next year.
Anna Webber/Getty Images for Afterpay
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Cash: Who needs it? Britons mull over the potential disappearance of physical money

by Stephen Beard
Sep 15, 2022
Digital payment methods may render notes and coins obsolete in the United Kingdom and turn it into a cashless economy.
As many as 8 million Britons are thought to depend on physical money because they don’t have an internet connection, a smartphone or digital skills.
Daniel Leal/AFP via Getty Images
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IRS tells payment apps to report business transactions over $600

by Kristin Schwab
Jan 7, 2022
The threshold used to be much higher.
As the number of self-employed workers expands, the IRS is requiring online payment platforms like PayPal to report transactions greater than $600. The threshold used to be $20,000.
Eric Piermont/AFP via Getty Images
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Why does Citibank want to open more branches in the age of online banking?

by Justin Ho
May 17, 2021
Mostly, it's about marketing.
Physical bank branches are good for building relationships with customers whom the bank hopes will buy more services over time.
Andrew Caballero-Reynolds/AFP via Getty Images
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COVID-19

P2P payment apps are booming, thanks to the pandemic

by Justin Ho
Mar 15, 2021
It can feel safer to send money with a mobile peer-to-peer app. Usage is expected to keep growing after the economy recovers.
Consumers are using peer-to-peer apps for investing and other purposes beyond receiving payments.
PayPal
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Venmo emoji use is changing in the coronavirus economy

by Kai Ryssdal and Alli Fam
Apr 21, 2020
The payment app's public transactions reveal consumer spending habits during COVID-19 restrictions.
Recent mask emoji usage has grown by 2000% compared to March 2017, according to Quartz's analysis of Venmo data.
Keystone/Getty Images
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Busking in the age of Venmo

by Leila Goldstein
May 13, 2019
Street performers try to attract tips by having payment app accounts. But cash is still king.
Leila Goldstein/Marketplace
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A tale of two payment apps

by Justin Ho and Leila Goldstein
Apr 26, 2019
Venmo and Zelle look like they should be competitors. But the two payment apps serve very different audiences.
Milkos/iStock/Getty Images Plus
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Marketplace Tech Blogs

Is the backing of the banks enough for Zelle to beat Venmo?

by Molly Wood
Jul 30, 2018
A look at the big banks' answer to Venmo.
STR/AFP/Getty Images
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