Venmo’s Latest Effort to Turn a Profit: Credit Cards

Venmo’s latest gambit to profit off its massive but still-not-lucrative user base involves a decidedly old-school idea: credit cards.

Executives at the digital payments company have been meeting with banks since late last year to discuss issuing a Venmo-branded credit card, people familiar with the matter said. The company, owned by PayPal Holdings Inc., is close to selecting Synchrony Financial as its credit-card issuer and is hoping to announce the card this year, one of the people said.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Iran’s Latest Economic Woes Hit Residents in Their StomachsIranian authorities have a new target in their bid to calm the country’s economic turmoil: meat-market manipulators. Back in 2012 when Iranian currency lost 2/3 of its value due to sanctions I could afford 3.6 pairs of Wrangler jeans by spending my income while I was a B.A student. Now I got my M.A in civil engineering and I can afford only 3.2. This is the tyranny of Islamic regime.
Source: WSJ - 🏆 98. / 63 Read more »