Venmo is introducing a debit card to take over more of young users’ finances. Why are they straying from their digital vision? Think of it as an introduction to Venmo, and a way for people to pay major retailers in-person using the fintech solution. In other words, Venmo can build their brand awareness and earn revenue via new retailer relationships. Even though Ypulse data shows that 29% of 18-35-year-olds use peer-to-peer payment apps like Venmo in an average month, mobile payments are still far from mainstream—and this move recognizes that. (Digiday)
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