“I like seeing what the guys I know are spending their money on.”
That’s how the youngest member of the Bank Innovation staff explained why she “loves” Venmo (even if she didn’t quite know how to pronounce the brand name).
In the past, PayPal has occupied a place on this list of Coolest Brands in financial services. PayPal, after all, is the stalwart anti-establishment brand in financial services. No longer. Its Venmo unit has a far cooler brand today. For example, both Venmo and PayPal were at this year’s South by Southwest conference, but Venmo’s presence seemed just hipper.
True, Venmo has been stung by security concerns in recent months, and they are certainly of note. But that Bank Innovation staffer is a recent convert to Venmo — “because someone told me about it.” That’s how the spark gets lit: by word of mouth. And Venmo is on fire right now.