🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

Venmo introduces new debit card benefits and payment options as rival Cash App struggles | TechCrunch

TechCrunch · 2m ago

Venmo introduces new debit card benefits and payment options as rival Cash App struggles | TechCrunch

Venmo is expanding beyond peer-to-peer payments with new debit card benefits and partnerships with retailers like TikTok Shop and Uber. The updated Venmo Debit Card includes tap-to-pay, 15% cash back at select retailers, and no foreign transaction fees. Users can schedule automatic transfers and make international payments seamlessly. Despite Cash App's recent financial struggles, Venmo’s revenue grew by 20%, with a 50% increase in payment volume and a 30% rise in active accounts.

1

Related News

UPI features like ATM withdrawals, circle likely to hit debit cards hard

Economic Times

Economic Times · 11m ago

UPI features like ATM withdrawals, circle likely to hit debit cards hard

The Unified Payments Interface (UPI) in India is expected to gain a larger share of the debit card market due to new features such as cash withdrawals from ATMs and delegated payments. Debit card usage has been declining in recent years, and UPI's ability to support various digital payment needs could further challenge the use of debit cards. UPI Circle, a delegated payment feature allowing authorization for family members' transactions, could potentially replace add-on debit cards. UPI ATMs offering cardless cash withdrawals and deposits could also reduce operational costs. As UPI expands, it diminishes the unique role that debit cards once held.

The latest iOS beta makes it easier to use Apple Cash

The Verge

The Verge · 1y ago

The latest iOS beta makes it easier to use Apple Cash

The iOS 17.4 beta introduces a virtual card number for Apple Cash, allowing iPhone users to pay with Apple Cash even when Apple Pay is not available. This feature removes a major limitation of the built-in payment service. Users can set up the virtual card number easily through the Wallet app. The generated card information includes an expiration date and security code. Apple Cash still uses a separate card number for Apple Pay transactions. This feature is currently being rolled out to beta users.

Elon Musk's X could launch a physical card with X Money: Report

Economic Times

Economic Times · 1m ago

Elon Musk's X could launch a physical card with X Money: Report

X, owned by Elon Musk, is reportedly developing a physical debit card linked to its financial service, X Money. Discovered by AppSensa, new code hints at a customizable card offering features like shipping tracking, activation, and PIN settings. This development follows X's partnership with Visa for peer-to-peer payments. The firm has secured money transmitter licenses across 40 U.S. states. X aims to rival digital banks with features such as cashback and deferred debit, expanding its payment network beyond Visa.

Paytm launches NFC soundbox that doubles up as card payment machine

Economic Times

Economic Times · 1y ago

Paytm launches NFC soundbox that doubles up as card payment machine

One97 Communications, the company behind Paytm, has introduced a card soundbox that also functions as a payment device. This innovative technology enables small shops to easily and affordably accept various types of payments, including credit or debit cards and UPI. With the Paytm NFC Card Soundbox, merchants can receive mobile payments from any UPI app and accept NFC-based debit and credit cards, simplifying the payment process for both customers and businesses. This advancement aims to empower offline merchants across the nation with inclusive payment acceptance capabilities.

Netflix confirms it’s cutting off Apple billing for grandfathered subscribers

The Verge

The Verge · 1y ago

Netflix confirms it’s cutting off Apple billing for grandfathered subscribers

Netflix has started removing longtime subscribers from their Apple iTunes billing plans in certain countries, requiring them to pay Netflix directly using a credit or debit card. This change affects members on the basic plan who were using iTunes payment, including users in the US and Canada. Previously, Netflix resisted using Apple's in-app subscription options due to the 30% cut Apple took. In 2018, Netflix stopped offering in-app subscriptions altogether. This move means higher prices for some subscribers or switching to an ad-supported plan.

Klarna trials debit card in US, plans Europe launch later this year

Economic Times

Economic Times · 2m ago

Klarna trials debit card in US, plans Europe launch later this year

Swedish fintech company Klarna is trialing a new debit card in the U.S., aiming to compete with traditional banks. Partnered with Visa, the card allows immediate payment or interest-free options for purchases both online and in-store. Although Klarna paused its U.S. IPO plans, it's currently testing the card with plans for a broader rollout in the U.S. and Europe. Issued by Utah-based WebBank, the card offers various colors and tiers for discounts and cashback.

Debit cards losing out as UPI turns default mode on ecommerce

Economic Times

Economic Times · 1y ago

Debit cards losing out as UPI turns default mode on ecommerce

Debit cards are losing popularity as UPI (Unified Payments Interface) becomes the preferred payment mode in India for both in-store shopping and peer-to-peer transactions. The rise of ecommerce has accelerated this decline, with the number of debit card transactions for online shopping decreasing significantly. UPI payments made to merchants have tripled, while credit card transactions in ecommerce have increased by 22%. Debit card usage at retail stores has also decreased. UPI's popularity is attributed to its ease of use, innovative checkout experiences, and zero MDR for merchants.

GST Council May Impose 18% GST On PAs For Small Payments

Inc42 · 11m ago

GST Council May Impose 18% GST On PAs For Small Payments

The proposal to impose an 18% GST on payment aggregators for processing transactions up to INR 2,000 made via debit and credit cards is being considered by the Council. The fitment panel argues that payment aggregators should be treated as intermediaries and not banks. This proposal comes after the waiver of service tax on debit and credit card transactions under INR 2,000 to encourage digital payments following demonetization.

Cash App users can now pool money for group payments -- even with non-users | TechCrunch

TechCrunch · 11d ago

Cash App users can now pool money for group payments -- even with non-users | TechCrunch

Cash App introduced a "pools" feature for collaborative payments, enabling users to pool funds for group expenses like groceries and vacations. It allows users to set a target amount and invite contributors via $cashtag or text links, even including non-users through Apple Pay or Google Pay, encouraging broader participation. In response to lower-than-expected user engagement and profit forecasts, this feature aims to enhance competitiveness against Venmo and PayPal's pooling capabilities.

Google realized Google Pay and Google Wallet are the same thing, so it’s getting rid of one of them

The Verge

The Verge · 1y ago

Google realized Google Pay and Google Wallet are the same thing, so it’s getting rid of one of them

Google Pay, which replaced Google Wallet and Android Pay, will be phased out and Google Wallet will make a comeback as the primary money transfer platform on Android. Google Pay initially served as a tap-to-pay service, while Google Wallet transformed into a rival to Cash App and Venmo. Despite multiple changes and rebranding efforts, Google Pay has become redundant and will be discontinued after June 4th, 2024, in the US. Users are advised to withdraw their funds before then. Overall, this transition is less chaotic compared to Google's numerous attempts at messaging apps.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Download the medial app to read full posts, comements and news.