Venmo rolled out several updates on June 4, 2025, designed to transform the platform into a more robust fintech tool for everyday spending. These changes include upgraded rewards for Venmo Debit Mastercard users and expanded checkout options at major retailers.
The updated Venmo Debit Card now offers 15% cash back at prominent retailers such as Sephora, Walmart, Lyft, McDonald's, and Walgreens. Additionally, 'Pay with Venmo' is now live at brands including TikTok Shop, Uber, Instacart, and Domino's.
These initiatives are part of PayPal's strategic effort to move Venmo beyond peer-to-peer transfers and accelerate its monetization. The goal is to increase debit card penetration, which is currently in the single digits, and drive higher transaction volumes by making Venmo a full-service commerce platform.
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