Venmo goes physical with new debit card

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Venmo goes physical with new debit card

PayPal owned peer-to-peer (P2P) payment app Venmo is testing a new feature that allows consumers to shop in brick-and-mortar stores with a physical debit card that's linked to their Venmo account balance.

This new feature will help the P2P company in two key ways.

Venmo will be better positioned to compete with rivals that have recently introduced their own in-store payment experiences, and This could be a new channel for Venmo to monetize its services.

BI Intelligence analyst Ayoub Aouad has the full story.
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