Fintech Nexus Newsletter (March 8, 2024): PayPal launches iPhone Tap-to-Pay for Venmo and Zettle users

You may remember a few months ago when PayPal launched Tap-to-Pay on Android for merchants using Venmo and Zettle. Yesterday, the fintech behemoth announced that the feature has now been added for iPhone users.

This allows any Venmo or Zettle merchant to use their phone as a payment acceptance device with no other hardware needed.

The pricing is very reasonable with 2.29% + 9c for every transaction processed in this way.

I have seen more and more small businesses accepting Venmo via their business account but this switch will likely open the floodgates now.

We are swiftly moving to a day where your phone is the only device needed to pay and accept payments. 

When hardware card readers go the way of the dinosaur and most transactions are conducted this way the opportunity for new payments rails will explode. But that is a topic for another time.

> PayPal launches ‘Tap to Pay’ on iPhone for U.S. businesses using Venmo and Zettle

By Aisha Malik  

PayPal announced today that it’s launching “Tap to Pay” for merchants with an iPhone through the Venmo and Zettle apps in the U.S.

From Fintech Nexus

> MoneyLion reports solid Q4 2023 earnings

By Fintech Nexus Staff

MoneyLion reported Q4 2023 earnings that exceeded expectations and showed significant improvement across the business.

> Six ways female founders can accelerate their fintech startups

By Marie Bosnjak

In celebration of International Women’s Day we provide some suggestions for female founders in fintech to help grow their startups.


Adam Famularo, CEO of WorkFusionAdam Famularo, CEO of WorkFusion

Adam Famularo, CEO of WorkFusion on using AI digital workers to fight financial crime

The CEO of WorkFusion discusses the role of AI digital workers in detecting financial crime and how they can augment a human…

Listen Now


Telesign webinar 03122024Telesign webinar 03122024

Navegando los riesgos del onboarding digital en el panorama fintech de América Latina

Mar 12, 2pm EDT (Spanish)

El proceso de onboarding digital sigue siendo un desafío importante para los bancos, las fintech y cualquier empresa que…

Register Now

Also Making News

  • USA: US Chamber Sues CFPB to Block Credit Card Late Fee Limits
    The U.S. Chamber of Commerce filed a lawsuit against the Consumer Financial Protection Bureau, aiming to stop the agency from implementing its new rule to limit credit card late fees.
  • USA: AI fraud detection software maker lays off 40% of staff
    Yet another AI-powered fraud detection software provider is laying off staff. Inscribe, whose platform works to detect fraud in areas like business underwriting, tenant screening, and onboarding, has cut just under 40% of its staff, which equates to dozens of employees. 
  • Global: World Bank embraces digital transformation
    President Ajay Banga hopes to boost connectivity and access to help close the digital divide.
  • USA: Mastercard, Dwolla using open banking to pursue separate markets
    In unrelated initiatives, the two companies are extending their use of open banking to create deeper client relationships.
  • USA: Venmo and Cash App competitor Zelle is closing in on its $1 trillion payments volume target
    Zelle enabled $806 billion in total historical transactions across 120 million consumer and small-business accounts. “In 2017, we launched Zelle and changed how Americans move money – we’re now on track to hit $1 trillion in 2024,” said Early Warning Services’ CEO, Cameron Fowler in a LinkedIn post.  
  • USA: Powell says Fed not “remotely close” to a central bank digital currency 
    Federal Reserve Chairman Jerome Powell significantly downplayed the possibility of the central bank issuing its own digital currency, and said if it ever came to pass, the government would play a limited role.
  • UK: NatWest ditches BNPL
    British bank NatWest is killing off its buy now, pay later (BNPL) service less than two years after launch.

To sponsor our newsletters and reach 275,000 fintech enthusiasts with your message, contact us here.

Related posts

Fintech Nexus Newsletter (March 21, 2024): Spend management remains hot with Coast raising $25 million


Fintech Nexus Newsletter (March 1, 2024): New York Community Bank struggles worsen


Fintech Nexus Newsletter (May 8, 2024): Nubank becomes first western digital bank to 100m customers