Venmo (PYPL) Unveils Digital Credit Card for Smartphones by Visa, Synchrony

relates to Venmo Unveils Digital Credit Card to Leverage Smartphone Use

Venmo, the popular mobile payment network owned by PayPal Holdings Inc., on Monday unveiled a digital-focused credit card, entering the fray of financial-services providers looking to leverage smartphones.

The Visa credit card, issued by Synchrony Financial, will be managed through Venmo’s smartphone app, but accompanied by a physical card printed with a QR code. The primary methods of making purchases will be via a credit-card number for online shopping or the physical card in stores, Venmo said Monday.

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