Venmo Is Beta Testing A Debit Card For Users To Make Purchases

Venmo Is Beta Testing A Debit Card For Users To Make Purchases
Banks, Insurance & Financial Services

Consumers will be able to use the card to shop both online and in stores

Lauren Kirkwood
  • 19 september 2017

Venmo has invited some of its users to participate in a beta program where they will be able to use a physical debit card tied to their Venmo account to make purchases.

“We have started sending a limited number of beta invitations to test a physical Venmo card to some of our users,” Venmo told TechCrunch. “While we’re excited to hear what people think, beta features are not guaranteed to see general release.”

To find out if you are eligible, check your Venmo account where a prompt for the debit card program should appear at the top of your feed. If you have been invited to participate, simply select a backup method, such as a bank account, that will be used anytime you attempt to pay for something that costs more than your current Venmo balance.

There is no fee to receive the Venmo debit card that currently features a photo of a ball of dough on the front of the card, which Venmo said was meant to be “tongue in cheek” for beta participants rather than a final design.

Through the program, which is similar to a debit card offered by Square, users will be able to spend the money in their Venmo account without waiting for it to transfer to their bank, and Venmo will generate revenue when the cards are used to make purchases.

The Venmo debit cards are Visa cards issued by Metropolitan Commercial bank via Shift Financial.

Venmo

Venmo has invited some of its users to participate in a beta program where they will be able to use a physical debit card tied to their Venmo account to make purchases.

“We have started sending a limited number of beta invitations to test a physical Venmo card to some of our users,” Venmo told TechCrunch. “While we’re excited to hear what people think, beta features are not guaranteed to see general release.”

+banking
+Design
+financial services
+retail
+technology
+venmo

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