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PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card

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MyDataMyChoice
Valued Contributor

PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card

PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card

https://www.synchrony.com/paypal-and-synchrony-to-launch-venmo-s-first-ever-credit-card-.html

Message 1 of 9
8 REPLIES 8
Anonymous
Not applicable

Re: PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card

i dont understand what venmo is, it looks like its the exact same thing as paypal, and it's owned by paypal. so why does it even exist. are they now going to make an exact duplicate of their already existing paypal mastercard?

Message 2 of 9
MyDataMyChoice
Valued Contributor

Re: PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card

Venmo is more “social” more peer to peer than Paypal...they have a feed of transactions sort of like twitter for who is paying who and why (idk why someone would want a social public record or money Cree??? Smh)

Paypal has peer to peer but it’s focus is online wallet online transactions

IMO I like Paypal better but Venmo is used more by young people.

Message 3 of 9
MyDataMyChoice
Valued Contributor

Re: PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card

Message 4 of 9
Anonymous
Not applicable

Re: PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card

Isn't Venmo(PayPal) in hot water at the moment though?

So sure lets launch a Venmo CC. lol

 

 

Message 5 of 9
KLEXH25
Valued Contributor

Re: PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card

I actually like the Venmo app / platform better, although I keep all my transactions private. I also think that PayPal has a negative image so Venmo overcomes that. I just like that you’ll be able to access account info and pay within the Venmo app. It sounds like you won’t have to transfer to Synchrony’s crappy site. I wonder if they’ll let you PC from PPMC to the new Venmo card?


Message 6 of 9
FinStar
Moderator Emeritus

Re: PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card


@KLEXH25 wrote:
I actually like the Venmo app / platform better, although I keep all my transactions private. I also think that PayPal has a negative image so Venmo overcomes that. I just like that you’ll be able to access account info and pay within the Venmo app. It sounds like you won’t have to transfer to Synchrony’s crappy site. I wonder if they’ll let you PC from PPMC to the new Venmo card?

Unfortunately, SYNCB doesn't PC between any of their CC products. 

Message 7 of 9
DaveInAZ
Senior Contributor

Re: PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card


@MyDataMyChoice wrote:
Venmo is more “social” more peer to peer than Paypal...they have a feed of transactions sort of like twitter for who is paying who and why (idk why someone would want a social public record or money Cree??? Smh)

Paypal has peer to peer but it’s focus is online wallet online transactions

IMO I like Paypal better but Venmo is used more by young people.

I've had PayPal since  . . . forever. I made a Venmo account a couple years ago and didn't see the point and never used it.

But, I'm not a younger people. So, Boomer  . . .

Message 8 of 9
SunriseEarth
Moderator Emeritus

Re: PayPal and Synchrony Expand Relationship to Launch Venmo’s First-Ever Credit Card

Interesting.   Currently, Venmo charges a 3% fee to fund with a CC (no fees for bank accounts or debit cards, IIRC), so Hopefully, a Venmo CC would eliminate that and you would actually get rewards for transactions.   Venmo is app-based and good for quickly moving money from person to person.   PayPal I think is better for dealing with transactions like retail purchases and eBay.   Anyway, I'd definitely consider adding it to my collection, if the finished product makes sense.  



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