Uber is the latest frontier in Venmo’s monetization plans

PayPal Holdings Inc. has been talking for almost a year about letting Venmo users pay with the service for items sold by third parties, but the company has become more aggressive with its efforts in recent weeks.

With its latest move, the company is hoping that millennials and others will start paying for Uber rides with the Venmo service. PayPal PYPL, +2.17% announced Thursday that Venmo would become a payment option on Uber in the coming weeks.

Uber is “a great use case for shared transactions,” PayPal’s Chief Operating Officer Bill Ready told MarketWatch, because it lets users split the fare among friends and share comments about a ride on their Venmo feeds.

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