Venmo has announced an integration with PayPal’s global payments network, allowing users to send and receive money through Venmo with PayPal users in 90 markets worldwide for the first time.

This expansion is seen as the largest boost to Venmo’s market potential since its inception, broadening its peer-to-peer payment reach from a US-centric network to one of the globe’s largest cross-border payment ecosystems.

Users can start transfers by inputting a recipient’s phone number in the Venmo app. If the number is associated with a PayPal account that has publicly searchable privacy settings, the recipient’s account will appear, and the sender can specify an amount in US dollars, with the equivalent in the recipient’s preferred currency automatically displayed. The exchange rate and any applicable fees are shown before finalizing the transaction.

Understanding consumer challenges

According to research conducted by Venmo across 2,000 US-based respondents, 49% have had to download or switch payment applications to repay someone. Additionally, 30% have failed to repay due to lacking the appropriate app, a statistic that increases to 52% among Generation Z individuals. The study also revealed that 41% of Americans regularly send money to friends or family overseas, with 42% of Generation Z members doing so at least once a month.

Moreover, this integration merges the two PayPal-owned platforms into one payment network, addressing user dissatisfaction arising from app incompatibility issues, especially for those who have traveled or lived abroad over the past few years and require consistent access to their familiar payment apps.

Diego Scotti, General Manager of the Consumer Group at PayPal, commented on the integration, stating that it simplifies cross-border payments for Venmo and PayPal users by combining everyday peer-to-peer functionality with PayPal’s global financial infrastructure.