- Venmo, the digital payments platform owned by PayPal, launched a brand new campaign featuring “The White Lotus” stars Aimee Lou Wood and Patrick Schwarzenegger meant to rejoice the app’s various commerce solutions, based on a press release.
- A 60-second spot set to a remixed version of the Black Sheep song “The Choice Is Yours” follows Wood and Schwarzenegger as they dance their way through various scenarios where they seamlessly make purchases using Venmo.
- The campaign will appear across culturally relevant touchpoints including TV throughout the NBA finals, social media, podcasts and gaming platforms. The effort arrives because the platform’s commerce tools, including Pay with Venmo and the Venmo Debit Card, report double-digit growth.
Venmo is touting its full range of commerce capabilities for its latest campaign, an effort that’s joined by the disclosing of several recent advantages for consumers who use their Venmo balance beyond the peer-to-peer payments for which the platform is best known. The push comes as adoption of digital payments grows. Roughly nine in 10 consumers in each the U.S. and Europe report having made some type of digital payment over the past yr, with the U.S. reaching a brand new high at 92%, based on McKinsey.
At the middle of the campaign is a 60-second spot, directed by Tajana Tokyo, that begins with Wood asking Schwarzenegger, “I assumed Venmo was for paying people?” when she observes the star using his Venmo balance to book a rideshare. Schwarzenegger responds, “Yeah, and for all the things else.” The duo then erupts right into a dance number, supported by a fresh refrain for “The Choice Is Yours” (“You can Venmo this, you may Venmo that”), as they use Venmo to make a swath of purchases.
Over 64 million U.S. consumers use Venmo every month for tasks like splitting meals, sending birthday gifts and paying their portion of rent, per release details. However, traction is growing for its other payment features. Total payment volume for its Pay with Venmo feature, which allows consumers to pay in-store, online and in-app using Venmo, was up over 50% in the primary quarter and monthly lively cardholders of the Venmo Debit Card grew 40%. The platform’s revenue saw a 20% lift year-over-year in Q1, while monthly lively accounts grew 30%.
Enlisting Wood and Schwarzenegger for the hassle could help Venmo extend to recent audiences and grow loyalty. “The White Lotus” is currently experiencing a surge in popularity and has built one among the biggest followings of any HBO series.
Other digital payment platforms have emphasized their shopping solutions, including PayPal, which launched its largest-ever U.S. promoting campaign when it comes to spend and scale last yr with Will Ferrell to showcase how easy it’s to buy using its platform and Debit Mastercard. A yr prior, Apple launched a “Pay the Apple Way” campaign promoting its Apple Pay service.
To support its campaign, Venmo also revealed limited-time money back offers for brands popular amongst its users. Venmo Debit Card holders can earn 15% money back from Sephora, Walmart, Lyft, McDonald’s and Walgreens. They could make purchases more easily with recent features including tap-to-pay, automatic transfers and 0 international transaction fees. Additionally, Venmo expanded its presence at checkout in-app and online, allowing consumers to pay using Venmo at brands including Instacart, Domino’s, Uber and TikTok Shop.
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