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Discover Network Joins MoonPay for Crypto Purchases
MoonPay has added Discover Network to its lineup, making Discover the third major U.S. card rail alongside Visa and Mastercard for buying and selling crypto on its platform. The expansion aims to reduce checkout friction for Discover cardholders by enabling crypto purchases through MoonPay’s network, which already serves tens of millions of users and hundreds of partners, though individual card-issuing banks still control whether crypto transactions are allowed.
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Venmo is an American mobile payment service founded in 2009 and owned by PayPal since 2013. Venmo is aimed at users who wish to split their bills or pay a business. Account holders can transfer funds to others via a mobile phone app. Account holders must be residents of the United States. Venmo also operates as a small social network, as users can observe other users' public transactions with posts and emoticons. In 2021, the company handled US$230 billion in transactions and generated US$850 million in revenue.

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