Unlike direct-to-bank transfers which can take anywhere from one to three business days depending on time of deposit and are free, debit card transfers over Paypal's Venmo will only take minutes most times of the week and will cost 25 cents apiece. Users will need to have an eligible Mastercard...
Venmo is great for splitting bills between friends, but it's about to get a lot more useful. PayPal has announced you can use the service online at thousands of different retailers.
Venmo is currently testing its own version of a physical debit card which would allow users to make purchases in "brick-and-mortar stores" using money in their accounts.
If you use Venmo, then you'll be happy to hear that it will be an option when checking out with PayPal. These transactions will even be covered by PayPal's seller protections too, and will be made available on mobile first.
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