Venmo Going Old-School With New Offering

Venmo

NEW YORK—Venmo 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.

 

Section: Standard
Word Count: 158
Copyright Holder: CUToday.info
Copyright Year: 2019
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URL: http://www.cutoday.info/Fresh-Today/Venmo-Going-Old-School-With-New-Offering