PayPal Holdings said on Monday it is launching a debit card for users of its mobile app Venmo in a bid to broaden its reach with younger users.
Venmo, which has been part of PayPal since 2013, is one of the more popular mobile applications for person-to-person payments in the United States.
Users of Venmo’s Mastercard debit card can pay in stores using the balance on their app rather than having to transfer funds to their bank account, it said