NEW YORK—After recently getting into debit cards, Venmo is now enhancing its plastic product—including a 5% cash back offer.
Venmo announced it's launching Venmo Rewards, a rewards program for its physical Venmo debit card.
The program provides automatic cash back at certain retailers when paying with the Venmo card, The Verge said.
Venmo stated the Venmo card will initially earn users 5% cash back at Target, Sephora, and Wendy's, and 4% cash back at Dunkin'.
However, these are "limited-time offers" and Venmo says new offers will be added on an ongoing basis.
According to Venmo, any cash back will be deposited straight into a user’s Venmo account, The Verge said.