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.
This entry was posted in Credit Card News and tagged debit card , money transfer , Venmo , transferring money , digital transfer , Venmo debit , Venmo app , pizza dough debit , mobile transfer , instant transfer , instant payment , physical debit card
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. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.