PayPal Plays to the Crypto Crowd

Like many other companies, PayPal is trying to capitalize on the interest in the ever evolving world of cryptocurrency while also keeping risks to its bottom-line in line. The latest initiative targets holders of its Venmo credit card.

Cash Back to Crypto is a new way for Venmo Credit Card customers to automatically purchase cryptocurrency from their Venmo account using cash back earned from their card purchases.

“The new feature, which further enhances the Venmo Credit Card’s dynamic rewards experience, expands choice in how customers can spend their cash back while allowing them to start exploring crypto within the Venmo environment they know and love.”

In April, PayPal launched the capability for people to buy and sell cryptocurrency within the Venmo app with as little as a dollar.

See yesterday’s full announcement and be sure to read all terms and conditions if considering using such services.

Ina Steiner

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). She is a member of the Online News Association (Sep 2005 - present) and Investigative Reporters and Editors (Mar 2006 - present). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com. See disclosure at EcommerceBytes.com/disclosure/.