Venmo users sent $8 billion last quarter — twice as much as a year ago

Venmo users transmitted $8 billion last quarter — twice as much as the same period a year ago, when the mobile payments service handled $3.9 billion in transactions, according to parent company PayPal’s second-quarter earnings report, released today.

Venmo, which was recently testing a physical debit card, will likely approach or pass $10 billion in transactions this current quarter and could approach $40 billion this year, if its growth rate stays consistent.

Here’s what Venmo’s growth looks like over the last two years:

This article originally appeared on Recode.net.

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