Should Venmo buy a bank?

Image Source: Article

Image Source: Article

At the KBW Cards, Payments & Financial Technology Symposium last month, PayPal CFO John Rainey was asked—twice—about whether or not the payments company, and Venmo parent, would ever buy or become a bank.
Rainey didn’t say no.
“We are pretty leery of becoming a bank holding company. I wouldn’t suggest that we are equally as leery of acquiring a bank or an issuer.”

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