Peter Rudegeair

speaker
756 appearances 12 recordings 1 series first heard Nov 2017 last heard May 2021

Peter Rudegeair’s voice in public audio — every appearance, attributed to the second.

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Usually it takes about three days unless you pay that fee for money to move from Venmo to your bank account.
And it recently, last year, rolled out a debit card tied to your Venmo balances.
You can kind of swipe that, and it would take money directly from your Venmo balance to the retailer, and the retailer would pay a small fee for that option.
Right.
So credit cards are very popular among tech companies lately.
Apple recently said it was going to launch a credit card with Goldman Sachs.
Amazon and American Express rolled out a small business credit card last year.
The economics are similar to the debit card in that whenever you swipe that credit card at a merchant, Venmo would get a small fee from the merchant for whatever you buy on it.
And over enough purchases, that could be some pretty big money.
And in today's age, a lot of young people want to accrue credit card rewards and get rewarded for their spending, so they may not use a debit card.
So this is kind of aimed at the Venmo audience that doesn't want a debit card, they want rewards, but is loyal enough to Venmo that they'll consider a Venmo credit card.
Isn't that true?
That's right.
Yeah, PayPal has a 2% cashback card with Synchrony.
It's had Synchrony credit cards since 2004.
Any timetable on this, or does nobody know?
They're hoping to announce it by the end of the year.
There's still some moving pieces.
No contracts have been signed as far as we know.
So it could take some time.
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