TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer said investors are missing something key about PayPal's (PYPL) Venmo.

"Venmo is a community of millions that use it constantly," Cramer said, adding that the Zelle competitor from Bank of America (BAC) is not used constantly. 

For exclusive investing insight from Jim Cramer, get 24/7 access to Jim's charitable trust portfolio with a free trial to Action Alerts PLUS!

More from Video

Former U.S. Education Secretary: Voters Are to Blame for Struggling Schools

Former U.S. Education Secretary: Voters Are to Blame for Struggling Schools

Meet Blackbird, the New 'Uber of the Skies'

Meet Blackbird, the New 'Uber of the Skies'

Here's How to Trade Walmart, Nordstrom, Macy's and J.C. Penney After Earnings

Here's How to Trade Walmart, Nordstrom, Macy's and J.C. Penney After Earnings

Here's Why Stock Picking Is Especially Important in the Retail Sector

Here's Why Stock Picking Is Especially Important in the Retail Sector

Tip For Financial Advisors: Think Outside the Box

Tip For Financial Advisors: Think Outside the Box