FinTech News

PayPal, Venmo Credit and Debit Cards Add Apple Pay Support

by Kyle BurbankOct 4, 2023

PayPal and Venmo cards are coming to iOS devices thanks to an update.

About the update:

Earlier this week, PayPal announced that PayPal and Venmo credit and debit cards could now be added to Apple Wallet. As a result, cardholders can use their eligible cards via Apple Pay in order to make purchases and earn rewards. This includes purchases made in-store, online, and in apps. Cards can not only be added to iPhones and Apple Watches for in-store purchases but can also be used via Safari on supported devices.

The update comes as the use of mobile wallets has continued to increase. According to a Morning Consult poll, 42% of Americans have used the likes of Apple Pay, Google Pay, Samsung Pay, and others.

To get started, cardholders can select the Apple Wallet app on their device. Then, users will tap “add debit or credit card” and either scan or manually enter their card details. Alternatively, PayPal credit and debit card customers can add their cards to Apple Wallet by following the prompts in the PayPal app. A similar feature will be added for Venmo credit card and debit card users in the coming months.

About PayPal and Venmo cards:

The PayPal Cashback Credit Card offers customers 2% back on all purchases. Meanwhile, with the PayPal Debit Card, users can earn PayPal Rewards points on eligible purchases by activating current offers. These points can be redeemed for cashback.

PayPal also offers a Business Debit Card. With this option, business owners can earn unlimited 1% back on eligible purchases. Plus, they can take advantage of bonus rebates at more than 50,000 locations that participate in the Mastercard Easy Savings program.

As for Venmo, they also have both a credit card and debit card. The Venmo Credit Card is unique in that cardholders automatically earn 3% cashback on their top eligible spending category each month, 2% back on their second most-spent eligible category, and 1% back on all other purchases. These eligible categories include Travel, Dining/Nightlife, Groceries, Entertainment, and Bills/Utilities. Lastly, similar to the PayPal Debit Card, the Venmo Debit Card includes cashback offers from select merchants.

My thoughts:

This news comes as a surprise to me because I never would have guessed that these cards didn’t already support Apple Pay. I suppose I just take that as a given these days. What’s more, looking into it, both Samsung Pay and Google Pay were previously supported, making the iOS omission even stranger to me. In any case, it’s nice to have the option of adding these cards to Apple Wallet now.

Author

Kyle Burbank

Head Writer ~ Fioney

Kyle is the head writer for Fioney. He is a personal finance nerd, constantly looking for new apps and services to test and incorporate into his own financial game plan. In addition to his role at Fioney, he's written for other publications including Born2Invest, Lifehack, and Laughing Place, as well as his own site Money@30. He also creates personal finance and travel-related videos for Money@30's YouTube channel, which has garnered more than 2 million views. Currently, Kyle resides in Springfield, Missouri with his wife of 10 years. Together, they enjoy traveling (including visiting Disney Parks around the world), dining, and playing with their dog Rigby.

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