More than two million U.S. retailers will accept Venmo payments online starting this week. Shoppers will be able to use Venmo, the mobile app that makes person-to-person payments, to pay for purchases made on participating retailers' mobile websites. The funds can be deducted from either their existing app balance or linked bank accounts and credit cards.
PayPal Holdings, Inc., which acquired Venmo in 2013, is hoping the move will capitalize on the app's younger demographic, enticing retailers with the chance to get to know shoppers over the embedded social feed where users may share information about their transactions.
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