[niketdesai]

The Paypal app was late, and didn't really support the seamless Venmo experience, because initially Venmo allowed you to sign up with a CC and ate the fees. Later, with enough momentum and usage, they moved people to direct deposit by adding the CC fee and giving some other incentives.

The company was acquired, along with BrainTree, by Paypal to bolster their mobile and API-driven payments in the present age.