Big news in the Fin Tech and payment software space as PayPal is going back to its traditional roots and E-Bay heritage by rescaling its instant transfer fee for Venmo transactions from $.25 to 1% of total. This sets up a split between P2P (person to person) low-value transactions and the B2B (business to business) or P2B (person to business) higher value transaction business segments.
This is a big cost increase for larger ticket Venmo users and should open the door for pricing leverage attacks by Square, IIIV and others whose business plans are more focused on the higher value transaction space.
As an example, let's say you use Venmo for rent processing. A monthly rental payment of $1000.00 using Venmo used to be $.25. Now it is $10.00. This is a HUGE change for the industry leader and opens the door for major opportunities for i# Verticals, Square and others.
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