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.