Tag: Venmo

PayPal Now Has One More Way to Monetize Venmo — and Battle Square

PayPal’s launching of a Venmo credit card gives it one more way to monetize the peer-to-peer (P2P) payments platform.



a close up of a screen: PayPal Now Has One More Way to Monetize Venmo -- and Battle Square


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PayPal Now Has One More Way to Monetize Venmo — and Battle Square

It also gives Venmo one more selling point as Square’s rival Cash App grows at a dizzying pace.

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The Venmo Credit Card, which was revealed on Monday morning, relies on Visa’s payment network, has no annual fees and can be managed via the Venmo app. Among its key selling points: A dynamic rewards system in which users get 3% cash back (automatically deposited to a Venmo account) on purchases made within their top spending category, 2% back on purchases made in the second-highest category and 1% back on all other purchases.

The card will also feature a custom QR code that can be scanned to let users send money to and split purchases with

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Venmo launches a credit card

Venmo’s first credit card is here, a former Amazon employee is arrested for fraud and we review the Nest Audio smart speaker. This is your Daily Crunch for October 5, 2020.

The big story: Venmo launches a credit card

PayPal -owned mobile payment app Venmo already offers a Mastercard-branded debit card, and it announced a year ago that it was planning to launch its first credit card as well. Today, it made good on that promise.

The Venmo Credit Card is a Visa card that offers personalized rewards and 3% cash back on eligible purchases. The cards come in five colors and include the user’s own Venmo QR code on the front.

Naturally, it also integrates with Venmo, allowing customers to track their spending and make payments from the mobile app. The card is currently available to select Venmo users, with plans to launch for the rest of the U.S.

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Coinbase is creating a new ‘Platforms’ team, hires executives from Venmo and Adobe

Crypto exchange Coinbase is building a new “Platforms” team and has hired two executives from Venmo and Adobe to join this team.

Shilpa Dhar, former head of product at Venmo, has joined Coinbase as VP of product. Ravi Byakod, former head of commerce engineering at Adobe, has joined Coinbase as VP of engineering.

Dhar and Byakod will lead Coinbase’s Platforms team and help the company focus on creating a “strong, scalable, and compliant infrastructure that can keep up with the growing cryptoeconomy,” said Surojit Chatterjee, chief product officer at Coinbase.

Before Venmo, Dhar worked for PayPal for more than ten years, and Byakod has had stints at Google, eBay and Flipkart.

It is unclear what specific products the Platforms team would build, but it hints at scaling the Coinbase Commerce platform since Dhar and Byakod have experience in leading commerce platforms.

The Coinbase Commerce platform helps merchants accept crypto payments.

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