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Venmo introduces new debit card benefits and payment options as rival Cash App struggles
Venmo aims to be more than just an app for paying friends with its latest update. On Wednesday, the PayPal-owned payment platform debuted several Venmo announced new debit card benefits and expanded the ability to make payments with retailers such as TikTok Shop and Uber.
Users can also make international purchases without incurring foreign transaction fees, a notable perk for frequent travelers. For all shoppers, Venmo now allows users to make payments at brands such as Domino’s, Instacart, TikTok Shop, and Uber. The usage of pay with Venmo jumped, with total payment volume increasing by over 50%, and the number of monthly active accounts rising by 30%.
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