Recommended
More Related Content
Similar to Company preso hyewonk
Similar to Company preso hyewonk (20)
Recently uploaded
Recently uploaded (20)
Company preso hyewonk
- 2. Problem
- 3. Product - Venmo Mobile App
- 4. Debit Card no fee Bank Account no fee Credit Card 3% fee Venmo Balance no fee ● Payment Method Product - Venmo Mobile App
- 5. ● Easily make & request payment ● Share on public feed Product - Venmo Mobile App
- 6. ● Payment received goes to Venmo Balance ● Transfer Venmo Balance to ○ Bank account ○ Debit card account Product - Venmo Mobile App
- 7. ● In-app purchase using Venmo Product - Venmo Mobile App
- 8. ● Physical Debit Card ● Use Venmo Balance Product - Venmo Mastercard
- 9. Business Model - Fees ● 3% fee for credit card transaction ● $0.25 fee for transferring balance to debit account ● 3% fee for purchasing with Venmo (charged to business) ● Withdrawal fee using Venmo Mastercard ○ $2.5 for ATM, $3 for counter
- 10. Finance ● Not profitable yet!
- 12. History Mar 2012: Opened Payment Service to Public Aug 2012: Acquired by Braintree
- 13. History 2013: Paypal acquired Braintree
- 14. History 2016: began in-app purchase service
- 15. History May 2018: began to remove payment functionality from website June 2018: launched debit card
- 16. Competitors Payment method Credit, Debit, Bank account Credit, Debit, Bank account Credit, Debit Bank account Fee 3% for credit 2.9% for credit 3% for credit No fee Social feature Proprietary physical card
- 17. Secret Sauce ● Easy to make / receive payment ● Social feed
- 18. My Prediction ● Not profitable yet but will be successful! ○ Loyal users ○ Additional feature to earn more money ● Security issue ○ Use multifactor authentication, PIN, encryption ○ Need to consider buyer / seller protection