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Venmo reaches into ATM, retail markets with MasterCard-branded debit card

June 26, 2018

After a year of tests, Venmo has officially launched a debit card that expands the capabilities of its popular P2P mobile payment app to encompass retail and ATM transactions.

The MasterCard-branded, contactless-enabled debit card is currently in limited release. Prospective users can join a waiting list for the card via the Venmo app.

Venmo card users will have the ability to track purchases through the app's transaction history feature. They can also withdraw cash surcharge-free at any ATM in the MoneyPass network. Transactions over other networks are accompanied by a $2.50 domestic withdrawal fee.

Venmo users who have enabled notifications in the app will receive an alert with every card transaction. An additional feature within the app allows the cardholder to deactivate a lost or stolen debit card.