Venmo, the payments app owned by
PayPal Holdings Inc.,
has introduced its first physical credit card, stamped with a prominent QR code on the front.
Venmo is gradually rolling out the ability to apply for the card, which is issued by
to its app users in the U.S. starting this week, the company said.
Cardholders can choose from five color schemes—from “Nightlife black” to “Cotton Candy pink”—and must scan the card’s unique QR code with the Venmo app to activate it.
The main purpose of the code on the card is to bring the digital experience of splitting checks and purchases via Venmo—a big part of Venmo’s pitch to new users—into the physical world, said Darrell Esch, senior vice president and general manager of Venmo.