PayPal unveiled plans to turn Venmo into a $2 billion revenue driver at its first investor day in four years. The peer-to-peer payment service has over 90 million US users but has struggled to monetize its popularity.

Now, the company is working to position Venmo as a “go-to money movement app,” expanding features like the Venmo debit card and “Pay With Venmo” for merchants. The number of merchants using “Pay With Venmo” has jumped 50% over the past year, including partnerships with Instacart and JetBlue.

PayPal shares jumped over 2% on the announcement before turning negative in the early afternoon. The stock is up nearly 24% over the past year.