In this episode, we dive into the heated competition between Venmo and Zelle, discussing how both platforms are shaping the world of peer-to-peer and peer-to-business payments. With Venmo recently launching recurring payments, we explore the growing rivalry with Zelle, which is currently dominating in total payment volume. Our conversation covers the user demographics, transaction sizes, and how each company plans to monetize their services. We also take a deep dive into the “wallet wars,” discussing potential competitors like Apple and Google, and the evolving role of fintech in payments.

Simon Taylor:  V / sytaylor  

00:00:00 - Introduction and Stats: Venmo vs Zelle

00:01:06 - Transaction Sizes and User Demographics

00:01:45 - Use Cases: Venmo vs Zelle

00:03:26 - Zelle’s Right to Win and Revenue Opportunities

00:04:29 - Venmo’s Monetization Challenges

00:05:05 - The Coming Wallet Wars: Who Will Win?

00:06:12 - PayPal Wakes Up: Venmo’s Untapped Potential

00:07:10 - Inside PayPal’s New Executive Turnaround

00:08:18 - Why PayPal Needs Cohesion in Its Offerings

00:09:19 - Meet Paze: Banks’ Answer to Digital Wallets

00:10:27 - Paze’s Strategy: Can It Compete with Apple Pay?

00:11:40 - Challenges for Paze: Do Consumers Want It?

00:12:17 - PayPal’s Fast Lane: The Future of Venmo?

00:12:51 - Venmo’s Strong Brand: Can It Lead the Market?

00:13:30 - Monetization Debate: Subscriptions vs Aggregation

00:15:05 - Will Wallets Become Identity Aggregators?

00:16:14 - Hiding Fees: Adding Value Through Services

00:17:10 - Subscriptions or Supply Charges: Which Model Wins?

00:19:54 - Venmo’s Next Move: Business Payments and Pay-by-Bank

00:21:55 - Venmo’s Roadmap: Building the Wallet of the Future