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Cynics will point at big rebates and claim they mean the vehicle isn’t selling, but that just exposes them for the industry noobs that they are. A rebate is a powerful financial tool that helps dealers overcome obstacles like negative equity, poor credit, and down payment requirements and get you to drive home in the car of your dreams today.

So if you’re dealing with any of the above, but still hope to slide behind the wheel of a new EV before new tariffs kick in, pay attention: these EVs could get you behind the wheel of a new electric ride sooner than you think!

UPDATE: Kia really, really wants you to buy a new EV this month!

As I was putting this list together, I realized there were plenty of ways for me to present this information. “Biggest EV incentive deals ..?” Not everyone qualifies for every rebate. “Most stackable EV rebates ..?” Too confusing. In the end, I went with national cash back offers and chose to present them in alphabetical order, by make. And, as for which deals are new this month? You’re just gonna have to read the article. Enjoy!

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BMW XM

BMW XM; via BMW.

It may look like an angry space beaver on the outside, but BMW advertises itself as the Ultimate Driving Machine, not the Ultimate Style Machine — and by all accounts, the big BMW PHEV is one, if not the best-handling big SUVs out there.

With up to 30 miles of all electric range and a powerful V8 engine, it’s not savaing any trees, but now through April 30th, all versions of the plug-in hybrid offer $12,500 in lease or APR cash. If you’re financing your XM PHEV, BMW Financial is also offering 3.99% financing for up to 60 months, with a 72-month option at 4.49% APR.

Chevy BrightDrop

Chevrolet BrightDrop ZEVO; via GM.

We recently highlighted a Costco offer that stacks a $25,500 manufacturer rebate with $3,000 in “regular” Costco Member Savings, $2,750 in “LIMITED-TIME” Manufacturer to Member Incentives, plus an additional $250 for Costco Executive members.

That’s more than $30,000 off the MSRP of one of the best, most capable commercial vans on the market – ICE or electric. And that’s before you factor in the 0% interest financing (72 mo.) being advertised on Chevy dealer websites.

Chrysler Pacifica PHEV

2025 Chrysler Pacifica PHEV Pinnacle; via Stellantis.

When the plug-in hybrid Chrysler Pacifica minivan first went on sale all the way back in 2016, it seemed to imply that the old Chrysler Corporation was going to race ahead of the other “Big Three” legacy US carmakers.

That didn’t happen, but the Pacifica is still the king of cupholders, while the van’s stow n’ go seating, and all the other practical, clever details that add up to remind you Chrysler invented these things. Through April 30th, you can get a $7,500 cash allowance plus $7,500 in Federal income tax credits on Pacific Plug-in Hybrid Select, S, and Pinnacle trim level vans.

Dodge Charger EV

Dodge-Charger-EV-overseas
2024 Dodge Charger Daytona EV; via Stellantis.

As the auto industry transitions to electric, Dodge is hoping that at least a few muscle car enthusiasts with extra cash, will find their way to a Dodge store and ask for the meanest, loudest, tire-shreddingest thing on the lot.

These days, that’s the new electric Charger – and you still owed money on the Hemi you just totaled, Dodge will help get the deal done on its latest retro ride with a $6,500 rebate on 2025 models or $3,000 plus 0% financing for up to 72 months on 2024s.

Dodge Hornet PHEV

2024 Dodge Hornet PHEV; via Stellantis.

Despite objectively being one of the slowest-selling new cars in North American, the Dodge Hornet eAWD PHEV offers specs that could make a compelling case for die-hard Dodge fans who are curious about EVs, but still worried about finding charging away from home.

If that’s you, the Hornet offers over 30 miles of all-electric range from its 12 kWH battery and a decently quick 0-60 mph — then sweetens the deal even more with $6,500 in lease cash to help bring the payment down.

Jeep Wrangler 4xe

Jeep China
Wrangler 4xe and its 49 miles of all-electric range; via Stellantis.

While not much of an EV with “just” a 17.3 kWh battery, the PHEV version Jeep’s iconic Wrangler is often the cheapest version of the SUV to lease – a fact that’s seen the 4xe variants become a popular choice. Now through April 30th, Stellantis is offering up to $8,000 in cash allowance (not counting dealer discounts and other local incentives) in hopes that this latest offer is one you can’t refuse.

Kia Niro EV

2025-Kia-Niro-EV-prices
Kia Niro EV; via Kia.

One of the most underrated little runabouts on the market, the Kia Niro EV is more fun to drive than you think it’ll be, with zippy acceleration, solid quality, and an approachable sort of anonymity that I think a lot of Tesla drivers would appreciate right now.

Now through April 30th, Kia is offering up to $8,500 cash back on remaining 2024 Niro EVs and $7,500 on 2025 models. If you don’t like paying interest, Kia has 0% financing for up to 72 months on ’24s and a sweet $129/mo. lease deal on ’25 models – so whatever your specific needs are, your Kia dealer probably has a Niro EV deal they can get to work for you.

Kia EV6 GT

Kia-EV6-GT-BMW-M2
Kia EV6 GT lines up against ICE supercars; via Kia.

CarsDirect is reporting 24-month leases on the positively awesome Kia EV6 GT featuring up to $19,000 in lease cash through May 1st. Other EV6 variants get decent cash back offers, too – be sure to ask your local dealer about the one you’re interested in.

Kia EV9

Kia-recall-EV9
Kia EV9; via Kia.

I’ve been seeing Kia’s excellent, hot-selling tree-row electric SUV all over the ‘burbs, lately — and it’s hardly a wonder why. In addition to being a great car, the Kia EV9 has some of the most aggressive customer incentives in the business, with $11,000 cash back for conventional financing customers and a whopping $16,000 lease cash on 24 month terms through May 1 (36 and 48 month lessors still get a pretty incredible $15,000 cash back).

Get used to seeing these around, in other words. If not in your own driveway, certainly in some of your neighbors’!

Nissan Ariya and LEAF

2024 Nissan LEAF and Ariya “Hero” shot; via Nissan.

The inspiration for this article was a hypothetical $9,140 Nissan LEAF deal that I hastily concocted while walking the floor of the 2025 Chicago Auto Show, but the fact remains that even with “just” the $8,500 cash back being advertised through April 30, the $28,140 $19,640 Nissan LEAF is probably the most affordable new car you can buy in the US. If you can score some additional local incentives and dealer discounts, so much the better.

If you want something a bit more modern (and with Tesla Supercharger access), the bigger, more conventional Ariya crossover also packs some solid offers with up to $7,500 in Customer Cash.

Polestar 3

Polestar 3 price
Polestar 3; via Polestar.

OK, this one’s cheating — the Swedish/Chinese love child of Volvo, Geely, and the championship-winning go-fast gurus at Cyan Racing, Polestar is announcing up to $20,000 in incentives to convince some (but, crucially, not all) customers to trade in their existing EVs on a new Polestar.

The catch? You have to trade in a Tesla to get the $20K. At the rate those cars are depreciating, though, that might be the best offer you’ll get out there!

Toyota bZ4X

Toyota-$10,000-discount-bZ4X
2025 Toyota bZ4X EV; via Toyota.

It’s not breaking any sales records, but the Toyota bZ4X is a solid five-passenger crossover EV that should meet any suburbanite’s needs with enough of Toyota’s legendary quality baked in to make it a safe bet for a decade-plus of hassle-free driving. Plus, with $10,000 in TFS Lease Subvention cash and plenty of dealer discounts floating around, it might be the best deal in Toyota’s current lineup.

Volkswagen ID.4

Volkswagen-EVs-in-2023
VW ID.4; via Volkswagen.

One of the most popular legacy EVs, the ID.4 offers Volkswagen build quality and (for 2024) a Chat-GPT enabled interface. To keep ID.4 sales rolling, VW dealers are getting aggressive with discounts, making this fast-charging, 291 mile EPA-rated range, 5-star safety rated EV a value proposition that’s tough to beat.

This month, buy a Volkswagen ID.4 with up to $10,500 in Customer Bonus Cash or lease one with $7,500 in Lease Bonus cash.

Volvo C40, XC60 T8 Recharge

2024 Volvo C40, XC60 T8 Recharge.

Volvo is offering up to $8,500 ($7,500 in customer cash, $1,000 in loyalty cash) off the price of remaining new C40s — the brand’s sporty, high-riding crossover coupe that happened to be its first dedicated EV offering in the US. If the C40 doesn’t suit you, the same deals are available on the more conventionally styled XC40 Recharge, too.

Buyers looking for one of Volvo’s excellent (IMO) T8 PHEV models can score up to $4,000 in allowances before the real discounting begins — and if, like me, your tastes run more towards Swedish sedans than SUVs, you might want to score yourself a sweet deal on a new S90 while you still can.

Disclaimer: the vehicle models and rebate deals above were sourced from sites like CarsDirect, CarEdge, USNews, and (where mentioned) the OEM websites – and were current 21APR2025. Despite my best efforts to filter these, some deals may not be available in your market, or to every buyer (the standard “with approved credit” fine print should be considered implied). Check with your local dealer(s) for more information.

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Anker SOLIX power stations up to 55% off, EcoFlow WAVE 3 AC and GLACIER coolers from $807, Greenworks, EGO batteries, more

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April 29, 2025

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Anker SOLIX power stations up to 55% off, EcoFlow WAVE 3 AC and GLACIER coolers from 7, Greenworks, EGO batteries, more

Today’s Green Deals is jam-packed with amazing deals, starting with Anker’s SOLIX Mother’s Day Sale that is taking up to 55% off another massive lineup of power station offers, complete with limited flash sales and some free gear on select purchases – all starting from $70. We’re also looking back in on EcoFlow’s Spring-to-Summer Sale to spotlight the launch deals we’re seeing on the brand’s new WAVE 3 Portable AC/Heater and the multiple sizes of GLACIER Classic Electric Coolers that are getting bonus savings and start from $807. We also spotted three of Greenworks’ cordless electric riding mowers (CrossoverT, CrossoverZ, and MaximusZ) getting up to $1,000 taken off their tags, as well as EGO’s 56V 2.5Ah and 5.0Ah batteries starting from $110. Plus, all the other hangover Green Deals are in the links at the bottom of the page, like yesterday’s latest EcoFlow sale offers, the new low prices on Lectric’s XP 3.0 e-bikes, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Save up to 55% on a massive lineup of power station deals during Anker’s SOLIX Mother’s Day sale starting from $70

Anker has launched its Mother’s Day sale running through May 11, with up to 55% being taken off its massive lineup of power stations and solar generators, as well as some multi-day flash sale offers and extra savings in the form of free gear on select purchases. A notable inclusion for campers is the brand’s F2000 Portable Solar Generator bundle that comes along with a 400W solar panel for $1,599 shipped, and also matching in price over at Amazon. Coming down off its usual $2,898 price tag, we’ve seen discounts in 2025 mostly dropping costs between $1,899 and $1,599, with today’s deal only beaten out by the discount from Christmas sales that dropped things $100 lower. You’re looking at the best price we’ve otherwise tracked, which saves you $1,299 while also equipping you with a reliable means of backup power for trips and emergencies.

As mentioned before, there are some benefits you can take advantage of during this event, with three different gift offers accompanying select purchases. When you buy a C1000 and EverFrost 2 40L bundle, you’ll get a free Tritan water bottle, while any of the C300 bundles come along with a free car charging cable, and purchases of either the F3800 or F3800 Plus score you a free protective cover.

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A solid mid-tier option for keeping devices and appliances running, Anker’s SOLIX F2000 power station provides a 2,048Wh LiFePO4 capacity that can deliver up to 2,400W of output on average with the ability to surge to 3,600W for larger appliance needs. Its 12 output ports give you a versatile range of coverage, including a TT-30 port to connect to your RV while out on the road and beyond. You can regain 80% of its battery in 1.4 hours by plugging it into a standard wall outlet, with it also boasting a 1,000W max solar input that would yield the same amount in 2.5 hours (and a little over 5 hours for the included 400W panel). There’s also the option to connect it to your car’s auxiliary port, as well as the usual array of smart controls available through its companion app.

Anker SOLIX Mother’s Day Sale flash offers (ending May 2):

Anker Mother’s Day Sale SOLIX F2000 deals:

Anker Mother’s Day Sale SOLIX C1000 deals:

Anker Mother’s Day Sale SOLIX C800 deals:

Anker Mother’s Day Sale SOLIX C200 & C300 deals:

Standard F3800 power station/solar generator offers:

Standard F3800 home backup bundles:

F3800 Plus power station/solar generator offers:

F3800 Plus home backup bundles:

Anker Mother’s Day Sale SOLIX accessory deals:

You can browse the entire lineup of Anker’s SOLIX Mother’s Day sale on the landing page here.

EcoFlow WAVE 3 AC/Heater

EcoFlow launches WAVE 3 AC/Heater and GLACIER Classic electric coolers at up to 49% off starting from $807

EcoFlow has launched its newest portable AC/heater and electric cooler units, which are joining the lineup of power station deals we’re seeing as part of the brand’s Spring-to-Summer Sale, but will be outlasting the sale through May 25 – plus, there’s even bonus savings and free gear to be had! Things start at the base WAVE 3 Portable Air Conditioner and Heater for $806.55 shipped, after using the promo code EFWGAFF5 at checkout for an additional 5% off. This new unit will carry a $1,299 price tag once the launch savings have ended, with the combined 38% markdown we’re seeing striking $492 off the going rate to set the bar for discounts down the road. Head below to learn more about this new device and check out its many bundle deals that we’ve collected together for you.

As a bonus, you’ll also be getting some free gear along with both the AC and the cooler, with the WAVE 3 coming along with a free 110W solar panel while the GLACIER coolers are getting a free Power Hat. These offers are only slated to continue through May 2, however, with the extra savings code lasting through May 25.

EcoFlow’s WAVE 3 provides similar performance to its previous-generation model, but with some notable upgrades, like the space coverage from the previous 108 square feet to 120 to 180 square feet. Whether you’re looking to utilize it for camping in a tent, car, RV, or other enclosed space, it’s 1,800W cooling output (6,100 BTU power) is claimed by the brand to drop temperatures by 15 degrees in 15 minutes, with the 2,000W heating output (6,800 BTU power) providing a similar speed of warming a space by 17 degrees in 15 minutes. It comes with an expanded list of smart controls through its companion app, with new features like the PetCare mode that automatically starts cooling once temperatures reach 77 degrees to protect your fur-babies from heatstroke, while also sending you notifications. There are also notifications for when its water drain needs attention, as well as offering a dehumidification mode and a sleep mode that drops operating noise to 44dB so you can sleep while it runs.

Like its predecessor, the standalone WAVE 3 can be powered by simply plugging it into an outlet or power station, or you can get up to 8 hours of wireless action with its add-on LiFePO4 battery (bundles below). Of course, once its battery is attached, there are some alternative ways to keep it juiced up and going, like utilizing up to its 400W max solar input to refill the battery in up to 3 hours, which can also be split between solar and an AC outlet to cut that time to 75 minutes. You can also connect it to your car with the brand’s 800W alternator, charging to regain a full battery after a little more than one hour of charging, while connecting it to your car’s auxiliary port takes longer, at 10 hours.

***Note: The 5% promo coupon has not been factored into the prices below; make sure to enter the code EFWGAFF5 at checkout to score the maximum savings where applicable!

EcoFlow’s WAVE 3 AC/Heater bundles:

EcoFlow GLACIER CLASSIC deals:

Be sure to also check out EcoFlow’s full Spring-to-Summer Sale power station lineup, which are getting up to 52% discounts on top of bonus savings in the form of an alternate sitewide 5% off code – with these deals only lasting through May 7.

Greenworks 60V CrossoverZ 42-inch Cordless Zero Turn Riding Lawn Mower

Cover up to 1.5 acres on Greenworks’ 60V CrossoverZ zero turn cordless electric riding mower at $3,800

Amazon is offering the Greenworks CrossoverZ 60V 42-inch Zero Turn Cordless Electric Riding Mower with four 8.0Ah batteries and two dual-port chargers for $3,799.99 shipped, and also matching the price directly from the brand’s website. Normally fetching $4,800 when it’s not on sale, discounts have been more stagnant than we saw last year, with it spending most of the time since October keeping to its full price and occasionally dropping down to $3,800 at best. Today’s deal is no different as the 21% markdown here cuts $1,000 off the tag and returns costs to the best price we’ve tracked since fall Prime Day. Head below to learn more and check out the other riding mowers seeing discounts.

One of Greenworks’ most highly-rated lawn care solutions, you’ll get a fully comprehensive mowing experience aboard the CrossoverZ, with this 60V package able to tackle up to 1.5 acres on a single charge of the included batteries. It’s been given a TRUBRUSHLESS motor housed within a 42-inch reinforced 12-gauge steel cutting deck, providing the equivalent output of a 24-horsepower gas motor that can easily handle inclines up to 15 degrees. The whole thing comes with an IPX4 waterproof design, ensuring it can handle sudden weather shifts when you’re in the middle of a job.

You’ll sit comfortably with the high-back padded seat that supports your back, all while the mower gets your lawn to desired heights ranging from 1-1/2 inches to 4-1/2 inches. This deal includes two dual-port turbo chargers which can have batteries refilled and ready to go in just 90 minutes. A quick tip from the brand – you can use two batteries to run the mower while charging the other two simultaneously, and switching them out when needed for more continuous mowing. If you have any additional 60V batteries from the brand, you’ll also have to option to throw them into the mix for extended performance too.

Other Greenworks riding mower discounts:

  • CrossoverT Pro 80V 42-inch Electric Lawn Tractor: $3,999 (Reg. $4,500)
    • Comes with four 5.0Ah batteries and plug-in charger
  • CrossoverZ 80V 42-inch Zero Turn Mower: $3,999 (Reg. $5,000)
    • Comes with four 5.0Ah batteries and plug-in charger
  • MaximusZ 80V 60-inch Zero Turn Mower: $7,500 (Reg. $8,500)
    • Comes with two 16.0Ah batteries, four 8.0Ah batteries, and wall charger
EGO 56V 2.5Ah ARC battery

Stock up on EGO 2.5Ah and 5.0Ah batteries for your lawn care arsenal while they’re up to $80 off starting from $110

EGO Power+ fans are getting a great opportunity to build up their battery collection as Amazon is now offering significant discounts on two varying sizes of batteries, starting with the brand’s 56V 2.5Ah ARC Battery at $109.99 shipped. Normally carrying a $180 price tag, it’s been more recently seen with discounts that keep it bouncing between $160 and $130. This is the second time we’re seeing it drop this low in 2025, with the $70 markdown here only beaten out by its $99 low that we haven’t seen for some time.

EGO is one of the most popular electric tool brands on the market, especially for lawn care needs. Its 56V ARC batteries are well known as interchangeable models between its ecosystem of equipment, which allows you to power most of its tools all with the same batteries. While the 2.5Ah batteries are the smallest of them, it still provides plenty of power to tackle many jobs around homes, with it even sporting a fuel gauge indicator light to keep you aware of its remaining battery level as you work. Right now, you can also find its larger 5.0Ah counterpart coming with a charger discounted at Amazon for $249.31 shipped, down from $329.

Best Spring EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.

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BYD just broke a record for premium EV deliveries in this booming market

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April 29, 2025

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BYD just broke a record for premium EV deliveries in this booming market

BYD-record-premium-EV-deliveries

BYD secured a new record for the most premium EV deliveries in a single day in India. After launching its new midsize electric SUV, the Sealion 7, BYD has officially entered the India Book of Records.

BYD sets new record for premium EV deliveries in India

Less than a month after opening orders for the new Sealion 7 in January, BYD India announced the new electric SUV had secured over 1,000 bookings.

Now, it’s officially in the India Book of Records. EVM Southcoast BYD delivered the highest number of premium EVs in a single day after handing over 51 Sealion 7 models.

The Sealion 7 is available in two versions: Premium and Performance, with all-wheel drive (AWD) and rear-wheel drive (RWD) options. The entry-level Premium model starts at ₹48.9 lakh ($57,500), while the Performance variant costs ₹54.9 lakh ($64,500).

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Powered by an 82.56 kWh BYD Blade battery, the Performance variant offers up to 542 km (337 miles) driving range while the Premium model can travel up to 567 km (352 miles) on a single charge (NEDC).

BYD-record-premium-EV-deliveries
BYD Sealion 7 delivery event in India (Source: BYD)

The Sealion 7 is 4,830 mm long, with a wheelbase of 2,930 mm, which is about the same size as the new Tesla Model Y, at 4,790 mm in length.

Designed by Wolfgang Egger, a former Lamborghini and Audi designer, the electric SUV features sleek character lines and an aerodynamic profile.

Inside, the Sealion 7 features a 15.6″ rotating touchscreen at the center of a minimalistic setup. Other interior highlights include a heads-up display, panoramic sunroof, premium Nappa leather seats, and an immersive audio system.

Variant Driving Range
(NEDC)		 Starting Price
BYD Sealion 7 Premium 542 km (337 miles) ₹48.9 lakh ($57,500)
BYD Sealion 7 Performance 567 km (352 miles) ₹54.9 lakh ($64,500)
BYD Sealion 7 driving range and price by trim in India (Source: BYD)

BYD said the accomplishment “isn’t just a delivery milestone” but a “bold step toward a cleaner, greener, and more sustainable India.”

Electrek’s Take

The Sealion 7 joins a growing number of vehicles BYD sells in India, including the Seal sedan, Atto 3 SUV, and eMAX 7.

Nearly 100,000 electric vehicles were sold in India last year, up 20% from the 82,688 sold in 2023. However, with new models arriving from Maruti Suzuki, Hyundai, BYD, and others, analysts expect significant growth in 2025.

According to S&P Global Mobility, EV production in India is expected to surge 140% to around 301,400 units. That’s about 6% of the roughly 5.16 million vehicles expected to be made in India this year.

And India is just one market BYD is rapidly expanding in. After overseas vehicle sales doubled in the first three months of 2025, BYD’s growth is poised to accelerate this year. BYD’s sales in Europe are expected to double in 2025, while other regions, such as Southeast Asia and Central and South America, are likely to see higher sales with the introduction of new models and the start of local production.

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Shift4 shares surge 11% on earnings beat as fintech stocks climb on results and upgrades

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April 29, 2025

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Shift4 shares surge 11% on earnings beat as fintech stocks climb on results and upgrades

Jared Isaacman, CEO of Shift4 Payments, at the New York Stock Exchange on June 3, 2021.

Source: NYSE

Fintech stocks were in focus Tuesday as fresh earnings reports and analyst notes drove sharp reactions across the sector.

Shift4 Payments and Upstart Holdings surged following upbeat news, while PayPal shares were slightly higher despite delivering a strong earnings beat.

Shift4 shares rose more than 10% after the company reported better-than-expected first-quarter results and raised its full-year guidance.

Shift4 reported adjusted earnings of $1.07 per share, above the LSEG expectation of 71 cents per share. Sales in the first quarter of $848 million were below the consensus estimate of $868 million.

The payments firm, which has been pushing into new verticals such as stadiums, gaming and travel, projected adjusted EBITDA of $853 million for 2025, up from $843 million. End-to-end payment volume hit $45 billion for the quarter, topping StreetAccount’s consensus estimate of $43 billion.

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Shift4 Payments one day stock chart

Upstart Holdings rallied after Bank of America upgraded the stock to neutral from underperform, setting a $53 price target. The firm cited a more balanced risk-reward outlook, supported by improving business fundamentals and a more reasonable valuation, following a 45% decline in Upstart shares since mid-February.

Analysts pointed to encouraging signs of recovery, particularly Upstart’s increasingly diversified loan portfolio, which is expected to provide more stable volumes. Over the past 18 months, Upstart has added prime loans, HELOCs, small-dollar loans, and has enhanced its auto loan product, expanding its addressable market beyond subprime borrowers and reducing its reliance on riskier credit segments.

Shares of Upstart have traded sharply higher after each of the last three earnings reports, as improvements in funding and loan volumes have boosted investor confidence. Still, nearly 28% of Upstart’s shares are currently shorted, according to Bloomberg.

Upstart reports first-quarter earnings on May 6 with an artificial intelligence-focused Investor Day scheduled for May 14.

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PayPal, meanwhile, delivered a mixed headline quarter. Shares were 1.5% higher after reporting an earnings beat and revenue that fell slightly short of the Street’s estimate.

One bright spot was Venmo, as revenue rose 20% year over year, reflecting early progress in the company’s effort to better monetize the platform.

While it has long been a popular consumer service for sending money to friends, Venmo’s ability to drive meaningful revenue has been a major question mark for investors, especially as competition from rivals such as Zelle and Square Cash has intensified.

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PayPal shares move higher after reporting earnings

Venmo’s total payment volume rose 10% from a year earlier, but revenue grew twice as fast, reflecting the business opportunity. Venmo only gets revenue from specific products such as Pay with Venmo at online checkout, Venmo debit cards and instant transfers, but not from peer-to-peer payments.

Analysts at Mizuho said on Tuesday that while the stock reaction was initially negative, they expect it to rebound. They noted that branded total payment volume rose 6% year over year excluding leap day effects — a better result than expected — and that PayPal reiterated its full-year total payment volume growth target despite macroeconomic uncertainty, signaling underlying strength.

However, Mizuho flagged that keeping full-year earnings per share guidance unchanged despite a lower tax rate could remain a drag on sentiment.

Read more about tech and crypto from CNBC Pro

PayPal CEO Alex Chriss: Huge opportunity to deliver to consumers and help small business

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