PayPal has been trying to build more momentum for its Pay with Venmo service and get more users to choose the popular peer-to-peer service at checkout. Monthly active users of Pay with Venmo increased about 185% from August to September, the company said on its latest earnings call.
Shopify shares are off 4.2% in Friday trading after a double-digit rise in Thursday’s session following a strong earnings report. PayPal shares are off 3.3% in Friday morning trading. Shopify’s stock has climbed 26% over the past 12 months, while PayPal’s has gained 16% and the S&P 500 SPX, -2.51% has risen 3.2%.