Venmo to launch its first credit card in 2020

Credit cards, illustration

Venmo announced today its plans to launch its first-ever credit card. The card is being issued in partnership with Synchrony, already the issuer behind Venmo parent company PayPal’s Extras Mastercard and Cashback Mastercard. The move is meant to help Venmo, a still unprofitable arm of PayPal’s larger business, generate more revenue.

PayPal’s plans in this space were reported in April of this year by The WSJ, which said the company had been taking meetings with various banks since late 2018 to discuss a Venmo-branded credit card. The report said PayPal was then close to selecting Synchrony as its issuer and would likely announce the card sometime later in 2019, as it now has.

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Google sues Visa and MasterCard

Creditcards under attack 1

With little ceremony and only two days before Christmas, Google filed an antitrust law against Visa and MasterCard for setting “supracompetitive” interchange rates from 2004 to 2012. This is but one more volley in the Battle Royale between big companies like Wal-Mart, Target, and Macy’s and major players in the payments industry.

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PulseWallet lets you pay for things by scanning your veins


A machine called PulseWallet scanns the veins in your hand and charges your credit card to pay for things. PulseWallet, or palm scanners like it, might soon call your local Starbucks home and provide one more way to pay for your Pumpkin Spice Latte.


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Coin: High-tech card could replace everything in your wallet


What if you could carry a single credit card device in your wallet that would digitally store up to eight credit, debit, membership, and gift cards and lets you switch between them with just a push of a button? Companies like Apple and Google have tried to give us digital wallets, but nothing has really caught on. People still feel tied to their physical wallets.



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MasterCard launches new credit card with display and keypad

The new credit card features an embedded LCD display and touch-sensitive buttons for generating one-time passwords.

MasterCard’s new “Display Card,” is a credit card that basically combines the usual credit/debit or ATM card with an authentication token. The authentication portion features a touch-sensitive keypad and LCD display — hence the name “Display Card” — for reflecting a one-time password (OTP).



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Visa Plans to Launch Digital Wallet for Banks in the U.S.


visa wallet

 The “digital wallet” will store the banks’ customers’ credit and debit card account information, both for Visa cards and other cards.

The world’s largest credit and debit card processing network, Visa Inc, is building a digital wallet that people can use to pay for things online or with their phones instead of with traditional cards.


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