Venmo “Ponies Up” to Expand P2P Reach

This week, peer-to-peer payments company and ETA member Venmo launched its first ad campaigns across the U.S.

Venmo, owned by PayPal Holdings Inc., has captured a significant portion of the P2P market share, processing $3.9 billion in payments during the second quarter of this year, nearly one and a half times more than just one year ago. Previously relying solely on word of mouth to connect with its users, the playful new “Pony-up With Venmo” ad campaign, which will run for two months in Chicago, IL, Austin, TX, Portland, OR and Nashville, TN is aimed at strategically reaching even more consumers in Venmo’s target demographic – 18-35 year-olds who use the app to split the bill for dining out, pay shared rents, divide grocery bills or to repay money lent friend to friend.

In addition to television adds, Venmo is sponsoring a custom “pony up” Snapchat filter and will be placing adds on pedi-cabs and beer coasters. Read more and take a look at one of the new TV spots on Venmo’s blog here.