Venmo Is Beta Testing a Physical Debit Card

Venmo Is Beta Testing a Physical Debit Card

September 12, 2017         Written By Lynn Oldshue

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.



The information contained within this article was accurate as of September 12, 2017. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


lynn-oldshue

About Lynn Oldshue

Lynn Oldshue has written personal finance stories for LowCards.com for twelve years. She majored in public relations at Mississippi State University.
View all posts by Lynn Oldshue
Featured Low Interest Card
Top Features : 1.25X miles on every purchase; no annual fee; bonus of 20,000 miles once $1,000 is spent in first 3 months
Featured Cash Back Card
Top Features : 1.5% cash back on all purchases; $150 bonus after spending $500 in first 3 months
Featured No Annual Fee Card
Top Features : Earn cash back TWICE. 1% when you buy plus 1% as you pay; 0% APR for 18 months on balance transfers
Featured Bad Credit Card
Top Features : Perfect credit not required; Reports to major credit bureaus
Featured Fair Credit Card
Top Features : No annual fee; access to higher credit line after making first 5 monthly payments on time
Featured Limited/No Credit
Top Features : No annual fee; reports to major credit bureaus; access to higher credit line after making first 5 monthly payments on time