Five Questions With: PayPal exec Bill Ready sees big opportunity in Pay with Venmo

PayPal Holdings Inc. rose to record highs Friday, a common occurrence of late as the payments company has found fans on Wall Street ahead of the launch of a new Venmo product.

Initially a free service for paying friends via an app for things like movie tickets and splitting taxi cabs, Venmo has struck a chord with millennials. But so far the free-to-use Venmo has not found gold for investors, despite the fact the app processed $9 billion in payments in the last quarter.

See also: More social media apps have become payment apps

PayPal PYPL, +5.53% executives are changing that.

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