Venmo Just Debuted the World’s Smartest Debit Card
Contactless payments and one swipe to deactivate
While everyone is fighting for your virtual dollars, it’s time to remember that shopping in brick-and-mortar stores still accounts for roughly 94% of retail sales in the U.S.
And in the real world, you usually need some sort of physical card to complete your purchase. Which is probably why Venmo — the digital payment service owned by PayPal that most people use to transfer money or split bills (and cause social anxiety) — is debuting a physical card.
Now in limited release, the colorful Venmo debit card can be used anywhere MasterCard is accepted, and also works for contactless payments. It plays well with the Venmo app: there, you can deactivate and activate the card with a quick swipe and keep track of purchases. You can also use the app to transfer money from linked accounts to sure up your Venmo balance.
Wish you could use your Venmo balance in more places, like restaurants? Bars? Clothing stores? Now, you can. Introducing Venmo card. Save your spot in line today: https://t.co/5tuLUwzE1O pic.twitter.com/Desogsk96D
— Venmo (@venmo) June 25, 2018
However, the card only works in the U.S., and there’s a $2.50 fee if you withdraw money from your Venmo card via a non-MoneyPass ATM.
Still ready to get physical? You’ll have to wait in a (digital) line until you’re “approved.”
H/t The Verge