Breaking The Barriers? Visa Partners With PayPal, Venmo To Broaden Reach Of Person-To-Person Payments

Visa Inc V tapped PayPal Holdings, Inc PYPL and Venmo to pilot Visa+, which aims to help individuals move money quickly and securely between different person-to-person (P2P) digital payment apps.
Later this year, Venmo and PayPal users in the U.S. can start moving money seamlessly between the two platforms.
Visa+ will not require users to have a Visa card; instead, by setting up a personalized payment address linked to their Venmo or PayPal account, individuals using either app can receive and send payments quickly and securely between the platforms.
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As part of a joint effort to build interoperability across payment platforms, Visa partners DailyPay, i2c, TabaPay, and Western Union Company WU, will also integrate Visa+ within their platforms.
Visa+ is expected to launch for U.S. consumers with select partners in late 2023, with general availability planned for mid-2024.
Price Action: V shares traded higher by 0.30% at $227.11 on the last check Tuesday.