Venmo processed $93,806 million of total payment volume, up 14% year over year, in the second quarter of 2026, according to the latest Venmo statistics in PayPal Holdings’ earnings presentation. That figure marked the seventh consecutive quarter of double-digit growth for the peer-to-peer app. Venmo revenue grew approximately 20% year over year to $1.7 billion in 2025, while monthly active accounts reached 67 million.
Monetization now moves faster than volume. Customers using both the Venmo Debit and Pay with Venmo generated more than nine times higher ARPA than peer-to-peer-only users, PayPal told analysts on its second-quarter 2026 call. PayPal does not publish a standalone Venmo profit figure or current Venmo demographics, so the Venmo statistics below stay with what the company and independent researchers actually report.
Key Takeaways
- Venmo TPV grew 14% year over year in each of the two most recent reported quarters, reaching $86,206 million and then $93,806 million.
- Venmo handled $328.9 billion of payment volume across the four quarters of 2025.
- Venmo’s share of total payment volume across PayPal’s platform rose from 18% to 19% between the second quarters of 2025 and 2026.
- Pay with Venmo volume grew 44% in the second quarter of 2026.
- Venmo’s average revenue per monthly active account sits at just over $25; only 5% to 10% of users use the debit card or Pay with Venmo, and less than 5% have set up recurring funds.
- Zelle users sent more than $1.2 trillion in 2025, a bank-funded rail operating at a different scale from Venmo.
Editor’s Choice
- Venmo TPV, second quarter of 2026: $93,806 million.
- Venmo revenue, 2025: $1.7 billion.
- Venmo active accounts: Over 100 million.
- Venmo monthly active accounts: 67 million, up 7%.
- Venmo Debit Card monthly actives: Up more than 50% year over year.
- Revenue outlook: On track to exceed $2 billion.
- US adults who have used Venmo: 38% in a 2022 survey.
Venmo Total Payment Volume by Quarter
- Venmo TPV climbed from $75,942 million to $93,806 million across the six most recent reported quarters.
- Two earlier quarters set the base at $74,848 million and $75,610 million in the third and fourth quarters of 2024.
- Volume rose by $7,600 million quarter over quarter in the latest reported period.
- First-half 2026 Venmo TPV totaled $180.0 billion.
- Second-quarter 2026 volume ran 25.3% above the third-quarter 2024 level.
- Total payment volume across the platform reached $486,448 million in the second quarter of 2026, the parent-level series behind our PayPal payment volume data.
| Quarter | Venmo TPV ($ millions) | Total PayPal TPV ($ millions) |
|---|---|---|
| 3Q 2024 | 74,848 | 422,641 |
| 4Q 2024 | 75,610 | 437,836 |
| 1Q 2025 | 75,942 | 417,208 |
| 2Q 2025 | 81,976 | 443,547 |
| 3Q 2025 | 85,226 | 458,088 |
| 4Q 2025 | 85,793 | 475,135 |
| 1Q 2026 | 86,206 | 463,955 |
| 2Q 2026 | 93,806 | 486,448 |
Source: PayPal Holdings 4Q 2025 and 2Q 2026 earnings presentations, 3Q 2024 to 2Q 2026
About This Data
Figures come from PayPal Holdings’ SEC filings, quarterly earnings presentations and call transcripts, PayPal and Venmo newsroom releases, Venmo’s published fee schedule, Pew Research Center, Zelle, and Block. Only company disclosures and named primary research qualified, and no figures are estimated. The data is reviewed on a rolling basis and updated when PayPal publishes new quarterly results.
Venmo TPV Growth Rate by Quarter
- Year-over-year Venmo TPV growth held at 14% in each of the two most recent reported quarters, after 13% in the quarter before.
- Growth ran at 8% and then 10% in the third and fourth quarters of 2024.
- PayPal described Venmo TPV growing 14% in the third quarter, continuing to accelerate from 12% in Q2 and 9% in 2024.
- In the first quarter of the year, Venmo TPV accelerated sequentially to 14% growth, the sixth consecutive quarter of double-digit growth.
- Venmo’s currency-neutral growth was 12%, 14% and 14% in the second quarter of 2025 and the first two quarters of 2026.
- The latest reading, 14% for the second quarter of 2026, sits at the top of the eight-quarter range in the chart below.
View the data
| Quarter | Value |
|---|---|
| 3Q 2024 | 8% |
| 4Q 2024 | 10% |
| 1Q 2025 | 10% |
| 2Q 2025 | 12% |
| 3Q 2025 | 14% |
| 4Q 2025 | 13% |
| 1Q 2026 | 14% |
| 2Q 2026 | 14% |
Recent Developments
- September 16, 2026: Venmo announced its 2026-2027 NIL partner roster of nine student-athletes, seven of whom compete in women’s sports, and launched Money Moves.
- August 19, 2026: PayPal and Venmo became accepted for tuition payments through new integrations with Illumia, Nelnet Campus Commerce, and TouchNet.
- August 10, 2026: Venmo customers can now pay for apps, games, in-app purchases, and subscriptions across Google Play using their Venmo balance, linked bank account, credit, or debit cards.
- Quarter ended June 30, 2026: PayPal reported Venmo TPV growth of 14% and Pay with Venmo growth of 44% for the second quarter.
- May 11, 2026: Venmo began rebuilding its entire app experience from the ground up for the first time since the app’s inception.
- April 15, 2026: Venmo expanded Stash, letting customers earn up to 5% cash back when they pay with Venmo at select merchants.
Venmo Users and Monthly Active Accounts
- Venmo reached over 100 million active accounts in 2025.
- Venmo monthly active accounts reached 67 million, up 7% year over year, in the fourth quarter.
- PayPal cited nearly 100 million total Venmo active accounts growing mid-single-digit on its third-quarter 2025 call.
- Venmo transactions per active account reached 31, up 9% for the full year.
- Over 90% of Venmo’s users engage with P2P, the core use the app was built around.
- Across all of PayPal, monthly active accounts increased 1% to 228 million in the second quarter of 2026.
| Venmo user metric | Figure | Period |
|---|---|---|
| Total active accounts | nearly 100 million | 3Q 2025 |
| Total active accounts | over 100 million | Full year 2025 |
| Monthly active accounts | 67 million | 4Q 2025 |
| Monthly active account growth | 7% | 4Q 2025 |
| Transactions per active account | 31 | Full year 2025 |
| Users engaging with P2P | over 90% | 3Q 2025 |
Source: PayPal Holdings earnings calls and 4Q 2025 earnings presentation, 3Q 2025 to 4Q 2025
How PayPal counts Venmo users: Venmo MAAs are active Venmo accounts that have completed a transaction at least once during the month of measurement.
Venmo user counts surface in earnings calls and annual highlights rather than in a recurring quarterly table, so the user series runs thinner than the volume series. We report the gaps as gaps rather than filling them with third-party estimates.
Venmo Engagement and Revenue per Account
- Venmo’s average revenue per monthly active account sits at just over $25, according to PayPal’s third-quarter 2025 call.
- ARPA for Venmo monthly actives grew 14% in 2025.
- Only 5% to 10% of Venmo users use the debit card or Pay with Venmo, and less than 5% have set up recurring funds.
- Accounts engaged across P2P, debit, and Pay with Venmo show ARPA about 4x higher, and accounts also bringing funds in through direct deposit or instant add show ARPA 6x higher.
- In the second quarter, customers using both Venmo Debit and Pay with Venmo generated more than nine times higher ARPA than peer-to-peer-only users, and this group has roughly doubled in size in the past year.
| Venmo engagement metric | Figure | Period |
|---|---|---|
| Average revenue per monthly active account | just over $25 | 3Q 2025 |
| ARPA growth, Venmo monthly actives | 14% | Full year 2025 |
| Users on debit card or Pay with Venmo | 5% to 10% | 3Q 2025 |
| Users with recurring funds in | less than 5% | 3Q 2025 |
| ARPA multiple, P2P plus debit plus Pay with Venmo | about 4x | 3Q 2025 |
| ARPA multiple, with direct deposit or instant add | 6x | 3Q 2025 |
Source: PayPal Holdings 3Q 2025 earnings call and 4Q 2025 earnings presentation, 2025
Key finding: PayPal management told analysts that Venmo’s average revenue per monthly active account sits at just over $25, while only 5% to 10% of users use the debit card or Pay with Venmo, and less than 5% have set up recurring funds in. That narrow multi-product base is the monetization runway behind the revenue growth.
Venmo Revenue Statistics
- Venmo revenue grew approximately 20% year over year to $1.7 billion in 2025.
- The $1.7 billion Venmo revenue figure excludes interest on customer balances.
- Revenue from Venmo products and services rose by approximately $340 million in 2025, according to PayPal’s Form 10-K for 2025.
- Venmo products and services added an increase of approximately $60 million in revenue for the three months ended June 30, 2026, and $130 million for the six months.
- Venmo is on track to exceed $2 billion in revenue ahead of plan, PayPal said on its February call.
- Over the past two years, Pay with Venmo and Venmo debit card revenue has doubled.
The $1.7 billion full-year 2025 figure above sets the baseline. The table below breaks down the growth behind it, from the approximately 20% full-year revenue growth to the incremental dollar increases PayPal reported across the following quarters.
| Venmo revenue measure | Figure | Period |
|---|---|---|
| Revenue growth | approximately 20% | Full year 2025 |
| Revenue increase | approximately $340 million | Full year 2025 |
| Revenue increase | approximately $60 million | 2Q 2026 |
| Revenue increase | approximately $130 million | 1H 2026 |
| Revenue outlook | more than $2 billion | Stated in the 4Q 2025 call |
Source: PayPal Holdings Form 10-K for 2025, Form 10-Q for 2Q 2026 and 4Q 2025 earnings call, 2025 to 2026
The ratio of revenue growth to volume growth is the number to watch. Revenue climbing about 20% in 2025 while quarterly volume growth ran at 10% to 14% that year means each dollar moving through Venmo is earning more, and the earnings calls point to debit and checkout rather than P2P fees as the reason.
Is Venmo still owned by PayPal?
Yes. PayPal Holdings’ annual report for 2025 states that “Our Venmo digital wallet in the United States (‘U.S.’) is a leading mobile application used to move money between friends and family”. PayPal reports Venmo volume, revenue, and user counts inside its own quarterly results rather than as a separate company.
Does Venmo make a profit?
PayPal does not disclose a standalone profit figure for Venmo. Management has said Venmo is also accretive to transaction margin, and that the shift toward everyday commerce positions Venmo for stronger profitability. Without a segment profit line, accretive margin is the strongest profitability signal the company offers.
Venmo Share of PayPal Payment Volume
- Venmo accounted for 19% of total payment volume across PayPal’s platform in each of the two most recent reported quarters, up from 18% a year earlier.
- Venmo TPV grew 14% in the latest quarter while total payment volume grew 10%, a gap also visible in Venmo vs PayPal user and fee data.
- Measured in dollars, Venmo TPV equals 19.3% of total payment volume in the second quarter of 2026.
- Branded checkout’s share slipped from 29% to 28% over the same span, while payment service providers rose from 44% to 45%.
- Venmo’s 19% share in the chart below is its highest reading in the three periods PayPal published in the mix table.
View the data
| Quarter | Value |
|---|---|
| 2Q 2025 | 18% |
| 1Q 2026 | 19% |
| 2Q 2026 | 19% |
Why it matters: Venmo TPV grew 14% in the second quarter while platform-wide payment volume grew 10%, so Venmo keeps taking a larger slice of the parent’s volume. PayPal’s Venmo wallet growing four points faster than the whole is how a product line turns into one of PayPal’s main growth engines.
PayPal P2P Payment Volume Including Venmo
- PayPal offers person-to-person payment solutions for domestic and international transfers through its PayPal, Venmo, and Xoom products; the rails are compared across apps in our peer-to-peer payment app statistics.
- P2P TPV reached $115,198 million, up 6% year over year, in the second quarter of 2026.
- P2P TPV stood at $102,353 million and then $102,663 million in the third and fourth quarters of 2024.
- Venmo TPV grew 14% while P2P TPV grew 6% in the latest quarter, a gap that reflects Venmo spending beyond friend-to-friend transfers.
- P2P and other consumer volume grew 10% in the second quarter of 2026, a broader category that includes debit card spending.
- The chart below peaks at $115,198 million in the second quarter of 2026.
View the data
| Quarter | Value |
|---|---|
| 3Q 2024 | 102,353 |
| 4Q 2024 | 102,663 |
| 1Q 2025 | 101,383 |
| 2Q 2025 | 108,442 |
| 3Q 2025 | 110,746 |
| 4Q 2025 | 109,810 |
| 1Q 2026 | 108,643 |
| 2Q 2026 | 115,198 |
Pay with Venmo and Venmo Debit Card Statistics
- Pay with Venmo grew 44% in the second quarter of 2026, up from 34% in the first quarter.
- Pay with Venmo TPV was up 32%, and Pay with Venmo MAAs were up 26% in the fourth quarter of 2025.
- Pay with Venmo hit $1 billion of TPV in September alone, and Pay with Venmo monthly active accounts grew by nearly 25% in the quarter, according to PayPal’s third-quarter 2025 call.
- The Venmo debit card attracted 1 million first-time users in Q3, and monthly Venmo debit actives grew by more than 40%, also on the Q3 2025 call.
- Venmo debit card TPV was up over 50%, and debit card MAAs grew 50% in the fourth quarter.
- Venmo Debit Card monthly active accounts were up more than 50% year over year in the second quarter of 2026.
- PayPal calls the Venmo Debit Card and Venmo’s checkout experience two of the platform’s fastest-growing products. Broader debit card statistics supply the category backdrop.
- The 44% reading for the second quarter of 2026 is the high point in the chart below.
View the data
| Quarter | Value |
|---|---|
| 4Q 2025 | 32% |
| 1Q 2026 | 34% |
| 2Q 2026 | 44% |
That acceleration in Pay With Venmo TPV, from 32% in 4Q 2025 to 44% in 2Q 2026, lines up with gains on the debit card side, detailed in the table below.
| Venmo Debit Card metric | Figure | Period |
|---|---|---|
| Monthly debit active growth | more than 40% | 3Q 2025 |
| First-time debit card users | 1 million | 3Q 2025 |
| Debit card TPV growth | over 50% | 4Q 2025 |
| Debit card MAA growth | 50% | 4Q 2025 |
| Debit card MAA growth | more than 50% | 2Q 2026 |
Source: PayPal Holdings earnings call transcripts, 3Q 2025 to 2Q 2026
Venmo Fees
- Personal payments sent between Venmo users carry a $0.00 fee for the recipient, unless the sender marks them as goods and services.
- Business profiles pay 1.9% + $0.10 per received payment, or 2.29% + $0.09 through Tap to Pay, one of the trade-offs in choosing between a Venmo business vs personal account.
- Instant Transfer costs 1.75%, with a minimum $0.25 fee and a maximum $25 fee, while the standard option is free.
- Sending money to an eligible non-U.S. PayPal account costs 5.00%, with a minimum of $0.99 and a maximum of $4.99.
| Venmo transaction | Fee |
|---|---|
| Send money with a credit card | 3.00% |
| Receive goods and services payment, personal account | 2.99% |
| Receive payment, business profile | 1.9% + $0.10 |
| Receive Tap to Pay payment, business profile | 2.29% + $0.09 |
| Instant Transfer withdrawal | 1.75% (min $0.25, max $25) |
| Send to non-US PayPal account | 5.00% (min $0.99, max $4.99) |
| Add cash at stores | $3.74 |
Source: Venmo fee schedule, captured October 2026
Goods and services fees fall on the seller: Venmo users are assessed a fee if the sender identifies the transaction as for goods and services. Marking a sale as a personal payment to avoid that fee also removes the transaction from the goods and services category, so sellers should read Venmo’s terms before choosing a payment type.
Venmo Statistics by Age
- 57% of 18- to 29-year-olds report using Venmo, compared with 49% of those ages 30 to 49.
- Smaller shares among those ages 50-64 (28%) and 65 and older (15%) report using Venmo.
- In total, 76% of Americans say they have ever used at least one of four payment sites or apps covered by the survey.
- The survey was conducted among 6,034 U.S. adults from July 5-17, 2022.
- PayPal describes Venmo’s user base as young, affluent, digitally native consumers.
- The 57% reading for adults aged 18 to 29 leads the chart below.
View the data
| Age group | Value |
|---|---|
| 18 to 29 | 57% |
| 30 to 49 | 49% |
| 50 to 64 | 28% |
| 65 and older | 15% |
Worth noting: Pew Research Center fielded its payment app survey among 6,034 U.S. adults from July 5-17, 2022, so the age split is more than four years old. PayPal has not published a newer Venmo age breakdown, so this page uses the Pew survey for the age split.
How popular is Venmo?
PayPal’s investor materials describe PayPal and Venmo as the #1 and #2 most popular payment apps in the US. In Pew Research Center’s 2022 survey, 38% of U.S. adults reported ever using Venmo, and usage was highest among adults under 30.
Venmo vs Zelle vs Cash App
- PayPal is used by 57% of U.S. adults, while smaller shares report ever using Venmo (38%) or Zelle (36%), and 26% say they have ever used Cash App.
- Zelle moved more than $1.2 trillion in 2025, up 20%, across 4.2 billion total transactions, the bank-network side covered in our Zelle statistics.
- A record 100 million bank and credit union accounts used Zelle in December, with an average of $3.4 billion moved every day.
- Cash App Monthly Transacting Actives held at 59 million in each of the three most recent reported quarters.
- Venmo monthly active accounts reached 67 million in the fourth quarter of 2025.
- Venmo’s 38% ever-used share in the chart below trails PayPal but edges past Zelle.
View the data
| Payment app | Value |
|---|---|
| PayPal | 57% |
| Venmo | 38% |
| Zelle | 36% |
| Cash App | 26% |
That 2022 usage snapshot, PayPal at 57% and Venmo at 38% of ever-users, predates the current scale each network reports now, shown in the table below.
| Network | Reported metric | Figure | Period |
|---|---|---|---|
| Venmo | Monthly active accounts | 67 million | 4Q 2025 |
| Venmo | Total payment volume | $328.9 billion | Full year 2025 |
| Zelle | Accounts that used Zelle in December | 100 million | 2025 |
| Zelle | Payments volume | more than $1.2 trillion | Full year 2025 |
| Cash App | Monthly transacting actives | 59 million | 2Q 2026 |
Source: PayPal Holdings, Early Warning Services, Block, 2025 to 2026
By the numbers: Zelle reported more than $1.2 trillion in payments and 4.2 billion total transactions in 2025, against Venmo payment volume of $328.9 billion across the same four quarters. The two networks count users differently, so dollar volume is the cleaner comparison.
Who has more users, Venmo or Zelle?
It depends on the measure. A record 100 million bank and credit union accounts used Zelle in December 2025, while Venmo monthly active accounts reached 67 million. Pew’s 2022 survey found Venmo (38%) slightly ahead of Zelle (36%) on ever-used share. The full head-to-head sits in our Zelle vs Venmo statistics.
Venmo Global and Campus Expansion
- Venmo users can now send and receive money with hundreds of millions of PayPal users across 90 markets, through a connection PayPal announced in March.
- Gen Z is nearly twice as likely as the average American to send money internationally every month, according to Venmo.
- PayPal World facilitated about $200 million of TPV between Venmo and PayPal by the second quarter of 2026.
- PayPal reported a 4x acceleration in Venmo product feature development in the first half of 2026.
- The tuition expansion marks one year since PayPal Inc.’s landmark agreements with the Big Ten and Big 12.
- Money Moves content will run on Venmo’s Instagram and TikTok throughout the 2026-2027 school year.
Across our payments coverage, campus deals and cross-border links tend to show up in volume data later rather than in the quarter they are announced. The 90-market PayPal connection is the expansion to watch in the next set of Venmo statistics.
Conclusion
Venmo processed $93,806 million of payment volume in the latest reported quarter, up 14%, and full-year revenue reached $1.7 billion, up approximately 20%. Revenue has been growing faster than volume, which suggests PayPal is earning more from each Venmo user through Pay with Venmo and the debit card rather than from friend-to-friend transfers alone.
PayPal says Venmo is on track to exceed $2 billion in revenue ahead of plan. Whether it gets there depends on lifting the small share of users who use more than P2P, the same lever every quarterly call returns to.
