One of the most popular money sending app Venmo (a PayPal company) has been found testing a prototype of a debit card for teenagers. Reverse engineer Jane Manchum Wong (@wongmjane) revealed the first signs of an upcoming card on Twitter that came from within the Venmo app.
The fresh prototype is still doesn’t have any particular name but is rumored to be called “Delegate” which will allow parents and guardians to manage a debit card’s funds for teens.
As for the image shared by Wong on Twitter, it shows a plain form titled “Enter your teen’s info”. However, what gives it away is the next line underneath that says “We’ll use this to set up the debit card”. The card will be most probably handled by the adults to fill funds and set usage limits. Teens may also be able to check the card’s balance from their accounts.
Venmo is working on delegate debit cards “for your teens” pic.twitter.com/1xotOVln8Q
— Jane Manchun Wong (@wongmjane) February 24, 2020
TechCrunch reached out to Venmo about the hidden card and offered the following statement: “Venmo is constantly working to identify ways to refine and enhance the user experience. We frequently test product offerings to understand the value it could have for our users, and I don’t have anything further to share right now.”
As mentioned above, Venmo is already a popular money sending app which is used by users of all ages, especially by youngsters. It seems that the business of app-connected debit cards for teens are in high demand as there are already a few offerings from Current, FamZoo, and Greenlight. Well, it will be interesting to see whether Venmo will charge an annual charge for it or not.
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