PayPal launches debit card to apply Venmo

Source: gate Arab news technical

باي بال تطلق بطاقة الخصم المباشر لتطبيقها Venmo

Announced company PayPal global -specialized in payment systems and transfer money through Internet- the launch of the Mastercard Debit Debit Card for users of its application for smartphones and Vince Venmo which will allow users to make payment transactions using the credit Venmo their own, so in an effort to expand its access to younger users.

Depends the application Venmo, which became part of PayPal since 2013, one of the smartphone applications most commonly used in payment processes from one person to another person in the United States.

It is usually used to apply Venmo in the transfer of funds between individuals or in the process of buying from one of the applications or online stores or the transfer of funds from the balance Venmo to the bank account, but now users will be able to the application of the deal card Mastercard direct debit to pay in stores using the balance app instead of having to transfer money to their bank accounts, this step is an indication that the application Venmo will become one of the biggest Reasons for the growth of PayPal in the future.

It is worth mentioning that the company PayPal has introduced in the month of October last feature that allows users to apply Venmo ability to pay using the app has more than two million retail stores across the internet.

With the launch of the debit card hoping PayPal get in on the new competitive advantage in the digital payments space, which is growing development in the recent period particularly in the transfer from one person to another.

Last year he launched the Union of some of the largest banks in the United States a new network name Zell Zelle a network allows customers to send funds to each other instantly through their smart phones, to see this Bank of America over its competitors as the service venture which used the same method in the instant transfer of cash between customers of banks in a payment from one person to another even when the transfer between two different banks.

There is another application called cash Cash continued to buy square Square, a company launched by Jack Dorsey, CEO of Twitter, this App users can spend their balance by debit card.

The application of the venture addressing $ 12 million of payments in the first quarter of this year which represents a growth by 80% during the same period last year. Has been the transfer of more than $ 25 million through a network Zell Zelle in the same period, but did not reveal a square about the size of cash transactions to develop cash.

You will be issued a debit card to apply Venmo by the Bank Bancorp Bancorp will become the amount of up to $ 400 in withdrawals daily, and the purchases of the cards in the transaction log can be divided with other users of Venmo.

Think debit card available application Venmo is part of the strategy for PayPal to expand the possibilities of achieving the income of Venmo in 2018. Wherein said Bill Ridge, Director of operations at PayPal during the day of the investment semi-annual which was held last month: “the expansion of the use of the application Venmo store retailers is considered a major step in the development and spread of the application”.

Link to it from the source: PayPal launches debit card to apply Venmo

0 Comments on “PayPal launches debit card to apply Venmo”

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