Venmo jumps into the real world with new debit card
Use it anywhere Mastercard is accepted.
The new Venmo debit cards are available in six colors.
Venmo, PayPal's emoji-fueled payments app, on Monday introduced a new debit card for US customers.
The card will let people pay using their Venmo accounts anywhere Mastercard is accepted in the country. Venmo started a beta program for the new cards last year, and they are now available in limited release.
The cards arrive as PayPal works to bring its popular, youth-focused Venmo app to more places, letting people pay with the service at more online stores. The cards should encourage people to use Venmo even more. These efforts may help PayPal stave off new competition from rival payments service Zelle, which is backed by major banks, as well as Apple Pay Cash and Square Cash. Square also offers a card, but it's a prepaid card, not a debit card.
If you spend above your Venmo balance using the new card, Venmo will draw from your linked bank account to complete a purchase. Card transactions will show up on your transaction history, so you can split costs with friends on Venmo or share what you bought on your social feed. Also, if you lose your card, you can disable it using your Venmo app.