This, of course, is an attempt to modernize how credit cards work, just as Apple has done with the Apple Card. One of the highlights of the Apple Card is the easy management process that lets users check all information through the Wallet app, not to mention the activation process where the user simply has to hold the iPhone against the Apple Card envelope.
However, this is not the first Venmo card, as the company already has a digital bank account with a debit card. Venmo’s debit card lets users check all transactions in their app, and it also offers an option to remotely disable the card, plus a cashback reward — so it’s expected that Venmo’s credit card will work in the same way.
According to a CNBC report, Venmo currently has over 40 million users, and everyone will be able to apply for a Venmo credit card when it becomes available.
Just like the Apple Card, Venmo is also available exclusively in the United States — at least for now.
