PayPal's Venmo top line could rise 20% if Apple opens up Tap to Pay on iPhone: Mizuho
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Mizuho Securities USA analyst Dan Dolev estimates that PayPal Holdings' (NASDAQ:PYPL) Venmo revenue could gain 15%-20% if Apple (NASDAQ:AAPL) opens up its tap-to-pay feature to Venmo.
"We believe the odds of Apple (AAPL) gradually opening up its NFC (near-field communication) to Venmo are potentially on the rise," Dolev wrote in a note Tuesday. "As evidence, Apple announced a tap-to-pay partnership with Square (SQ) just last week."

Mizuho's proprietary survey showed that Venmo and Apple Pay users have a strong appetite to use tap-to-pay if Apple (AAPL) opened up its NFC to Venmo. That could boost Venmo's total payment volume by ~10%, Dolev estimated.
He also pointed to a Bloomberg report that PayPal (PYPL) helped trigger a formal EU antitrust complaint against Apple (AAPL) on the basis that the tech giant wasn't allowing other payment platforms to use the feature.
The note hasn't helped PayPal's (PYPL) stock price, -1.2% in Tuesday midmorning trading. Meanwhile, Apple (AAPL) rises 0.7%.
Last week, Block (SQ) stock jumped after unveiling Square partnership with Apple for Tap-to-Pay on iPhone