Venmo's path to profitability for PayPal: Cashing in on $62 billion payments processed per year

Venmo has changed the way individuals move money. Its emoji-filled newsfeed shows a steady stream of daily payments – from roommates sending each other utilities and rent checks to friends paying each other back for yesterday's lunch or last night's bar tab. But have you ever wondered how Venmo actually makes money? For years, it hasn't. Now though, Venmo is on the cusp of profitability for its parent company, PayPal.