NEW YORKâVenmo is going old school, offering a credit card.
Executives at the digital payments company have been meeting with banks since late last year to discuss issuing a Venmo-branded credit card, MarketWatch reported.
The company, owned by PayPal, is close to selecting Synchrony Financial as its credit-card issuer and is hoping to announce the card this year, MarketWatch said.
Venmo, which offers a mobile money-transfer app, is the latest technology company to explore entering the credit card business as a way to boost revenue and consumer engagement, MarketWatch said.