SAN JOSE, Calif.—Venmo has announced the launch of the Venmo Credit Card, issued by Synchrony and backed by Visa.
The new credit card gives customers automatic cash back on every eligible purchase, a personalized rewards experience, and the ability to manage the card directly in the Venmo app, IBS Intelligence reported.
“The Venmo Credit Card is unlocking new ways for customers to shop, share or split purchases, and earn cashback anywhere Visa credit cards are accepted,” Venmo stated.
“We’re excited to introduce the Venmo Credit Card, giving our community a new kind of mobile-first credit card,” said Darrell Esch, Venmo SVP and general manager. “The card gives our customers the same unique Venmo experience they already know and love, in an intuitive, easy-to-use card and rewards program, that’s all seamlessly managed and controlled from the Venmo app. Venmo has become an integral part of the way our community spends, shares and manages their money, and the Venmo Credit Card represents yet another way we are expanding the capabilities of Venmo into people’s everyday lives.”
The Features
Venmo said its card offers:
- Personalized Rewards Experience: The card provides a unique, intelligent rewards system capable of managing and personalizing each customer’s spending habits.
- Track and Manage Finances: It provides customers with an easy way to manage their card and spending in the mobile app.
- Virtual shopping: Customers have access to a virtual card, which allows them to shop online anytime.
- Safer, Touch-Free Payments: The Venmo Credit Card comes equipped with an RFID-enabled chip.
- Card Management: If the card is lost or stolen, customers can quickly and easily freeze their physical card directly from the app and continue to use their virtual card to shop online.