PayPal Holdings Inc. announced on Monday that it is launching a debit card for its mobile application Venmo. The move stems from the company’s initiative to appeal more to younger audiences as the app will now allow its users to use their balance both in physical and online locations. It will also work with ATMs with a $2.50 fee and the users will be allowed to track their charges in the app.
PayPal chose MasterCard for the release and instead of a horizontal, the company opted for a vertical debit card appearance. The card is currently in “limited release” with people already on the waitlist.