Today Venmo will be rolling out its latest card offering for consumers. Joining the lineup of the six brightly colored, Mastercard-branded debit cards Venmo rolled out about six months ago, the limited edition rainbow card is Venmo's latest debit offering for customers that want more ways to pay with their Venmo account funds.
“We’ve seen tremendous adoption of the card, which allows users to pick a card color that best suits their personality and style,” Venmo noted in a press release about the rainbow cards.
Much like their monochromatic forerunners, the new cards will allow Venmo customers to access the balance in their accounts in real-world locations that accept major credit cards. According to Venmo, grocery stores and settling the dinner bill are just two of the more common everyday use cases where the cards apply. The cards also preserve the ability of users to easily split up bills and checks.
“One of the reasons our users love Venmo is because they can easily split the costs of what they’re buying with friends – the card is no different. Once a purchase is made, you can split the purchase in the app and choose to share it in the social feed,” Venmo noted in the new card’s announcement.
The card will also remain ATM-friendly — and supported at 32,000 MoneyPass ATMs in the U.S.
The rollout of the rainbow card, however, is more than grafting familiar features onto a new card design — Venmo has also added some new functionality to the card. Going forward, users can select a purchase or Venmo card charge from their activity page and add the desired tip directly in the app. To make that easier, Venmo suggests a few tip amounts to save users the irritating calculation requirement. The cards will also now carry the ‘Add money’ feature, designed to allow users to replenish their Venmo balance instantly. Users can also tap into the feature to enable automatic reloads that automatically cover purchases from a linked bank account.
The limited edition rainbow card is rolling out to top cardholders today (Feb 22) and will be widely available to all Venmo users on March 4th. The cards will remain available for as long as supplies last.