Venmo is testing out a free debit card for select users that is linked to their accounts.
According to a TechCrunch news report, the company is inviting select users to participate in a beta program. They will receive a free Venmo debit card that is attached to their Venmo account. Users can pay with the card in stores, online or as a mobile payment, and the money will be debited from their Venmo balance.
“We have started sending a limited number of beta invitations to test a physical Venmo card to some of our users,” said Venmo in a statement. “While we’re excited to hear what people think, beta features are not guaranteed to see general release.”
Like the Square’s Cash card, there is no fee for the Venmo card. In addition to verifying their identity, users have to select a backup reload method, such as their bank account, that will be used if their Venmo balance doesn’t cover a purchase made with the card.
TechCrunch added that the card design – a photo of pizza dough with flour sprinkled on top – leaves a lot to be desired, unlike the customizable card Square offers its customers. However, Venmo claimed that it’s temporary. “This design is meant to be tongue-in-cheek for people participating in the beta, not a final design for general release,” the company said.
The Venmo cards are Visa debit cards issued by Metropolitan Commercial Bank via Shift Financial, a YC-backed company that provides physical and virtual debit cards to payment providers.
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