Venmo Preparing to Launch Credit Card

Venmo is getting ready to seal a deal with Synchrony Financial to offer a credit card in a bid to drive new revenue streams; the partnership will aim to launch the credit card in 2019; while Venmo has become one of the most popular financial apps the company is still losing money and is estimated to have an operating loss of $394mn according to Nomura Holdings; the move to launch a credit card is part of a wider strategy by the company to increase revenue drivers, they most recently launched the ability of users to instantly transfer for 1 percent; the company will have competition with Apple and Amazon recently launching credit cards. Source.

  • Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.

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