Venmo Is Beta Testing a Physical Debit Card
Venmo is sending out physical debit cards to select users as part of a new beta test. The cards will be attached to the users’ Venmo accounts, allowing them to spend money in stores and restaurants just like they would with a bank debit card.
The money spent on the card comes out of a person’s Venmo balance. If there is not enough money available in the account, the funds will come from the backup account tied to the card (selected during the sign-up process).
Venmo began testing this service in June, but it was only available to company employees. A spokesperson from Venmo told Tech Crunch, “While we’re excited to hear what people think, beta features are not guaranteed to see general release.”
The current card design shows a ball of pizza dough with flower on top. It’s meant to be a play on words: “dough” represents money. Venmo says this will not be the final card design, but rather a “tongue in cheek for people participating in the beta.”
Users eligible to receive a debit card will get a prompt when they open the Venmo app. There is no widespread release date at this time because Venmo is not sure if they will launch a debit card for the general public.