PayPal rolls out its Venmo debit card

Tuesday 26 June 2018 11:10 CET | News

Venmo, PayPal`s social payments platform, has rolled out a Mastercard debit card that will let users make in-store payments with their Venmo balance.

The social payments platform processed USD 12 billion of the companys total payment volume in Q1, representing growth of 80% over the year-ago period.

The payments company has introduced more payment functions with Venmo, starting with the ability to pay select businesses with Venmo through the Braintree platform. PayPal then gave Venmo users the ability to use their app balance or linked cards and bank accounts anywhere PayPal is accepted in the US via the mobile web.

The Venmo-branded debit card is part of PayPal strategy to expand Venmos monetisation potential in 2018.

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Keywords: PayPal, Venmo, debit card, P2P payments, Mastercard
Countries: World