Source of this article and featured image is TechCrunch. Description and key fact are generated by Codevision AI system.
Venmo has launched a new rewards program called Venmo Stash, which provides cash back to users who engage with their favorite brands on the app and use their Venmo Debit Mastercard. The rewards, which can reach up to 5%, are deposited directly into the Venmo Debit Mastercard. This initiative aims to encourage continued use of Venmo’s services by increasing user engagement and bringing more funds into the platform. The program also reflects a growing trend among brands to target younger consumers who prefer debit cards over credit cards. This is particularly relevant as recent studies show that a significant portion of Gen Z users favor debit cards over other payment methods.
Key facts
- Venmo introduced a rewards program called Venmo Stash to offer cash back to users who engage with their favorite brands.
- The rewards can be up to 5% and are returned to Venmo’s Mastercard Debit Card.
- The program aims to incentivize continued use of Venmo’s services by increasing user engagement.
- Recent studies indicate that many Gen Z users prefer debit cards over credit cards.
- Venmo plans to expand the program to include rewards for payments made at merchants within its nationwide network.
TAGS:
#cashback #debit cards #financial incentives #Gen Z #payment apps #rewards program #TechCrunch #Venmo
