Venmo’s Debit Card Lets Users Pay Without Their Phone
The mobile payment app is optimizing its user experience by letting members pay with their Venmo balance via debit card, facilitating and expanding the use of the service while also eliminating the need for a phone
Venmo is jumping from its users phones right into their wallets with the release of its debit card. Created with MasterCard and useable wherever the financial service is accepted, the Venmo debit card synchs with user accounts and allows the balance to be spent or withdrawn from an ATM.
The card comes with a $400 limit on daily cash withdrawals, with a $2.50 transaction fee, and is currently available under a limited release with a waitlist. Venmo has always been an app aimed at creating ease for its users, from squaring up debts between friends to digital bank transfers, and this debit card eliminates some of the more time-consuming aspects of the service.
Wish you could use your Venmo balance in more places, like restaurants? Bars? Clothing stores? Now, you can. Introducing Venmo card. Save your spot in line today: https://t.co/5tuLUwzE1O pic.twitter.com/Desogsk96D
— Venmo (@venmo) June 25, 2018
Linking one’s phone to a payment card eliminates the need to wait on bank transfer dates, which gives Venmo an edge over other cash-sharing apps. By introducing a little bit of analog to its digital world, Venmo is prioritizing the customer convenience of its service, and continues to show that perhaps entirely card-less or solely digital transactions can be optimized through the implementation of a more tangible form of payment.
Lead image: paying with card stock photo from goir/Shutterstock