Jun 25, 2018

Venmo goes plastic, launches debit card for younger consumer appeal

Screenshot from Venmo.com/card. Kim Hart/Axios

Venmo officially launched a physical debit card Monday so users can purchase items using their Venmo balance through a Mastercard.

The big picture: Venmo’s move to plastic stems from the reality that some people prefer a physical card in their wallet, according to The Verge. Like Square's prepaid card launch last year, “peer-to-peer” payment apps are targeting how younger consumers are using payment cards and online banking services.

The features:

  • Records transactions to Venmo make splitting bills among users much easier.
  • The card can be used at an ATM where users can withdraw money from their Venmo balance.
  • "Swipe-free" shopping.
  • If a user's Venmo balance is low, the card can refill it from a preferred source.
  • Only available in the United States.
  • Comes in six colors.

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Bernie Sanders wins Nevada caucus

Democratic presidential candidate Sen. Bernie Sanders waves to supporters at a campaign rally on Friday in Las Vegas. Photo: Mario Tama/Getty Images

Sen. Bernie Sanders is projected to win the Nevada Democratic primary caucus, according to the Associated Press and other media outlets.

Why it matters: Nevada is the first state with a diverse population to hold a nominating contest, highlighting candidates' abilities to connect with voters of color — particularly Latino voters.

South Korea and Italy see spikes in coronavirus cases

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The novel coronavirus has spread to more nations, and the U.S. reports a doubling of its confirmed cases to 34 — while noting these are mostly due to repatriated citizens, emphasizing there's no "community spread" yet in the United States.

The big picture: COVID-19 has now killed at least 2,362 people and infected more than 77,000 others, mostly in mainland China. New countries to announce infections recently include Israel and Lebanon, while Iran reported its sixth death from the virus. South Korea's confirmed cases jumped from 204 Friday to 433 on Saturday and Italy's case count rose from 3 to 62 by Saturday.

Go deeperArrowUpdated 34 mins ago - Health

America's rundown roads add to farmers' struggles

Illustration: Sarah Grillo/Axios

American farmers are struggling to safely use the roads that cut through their fields; decades of neglect and lack of funding have made the routes dangerous.

The big picture: President Trump has long promised to invest billions in rural infrastructure, and his latest proposal would allocate $1 trillion for such projects. Rural America, where many of Trump's supporters live, would see a large chunk of that money.