Venmo announced today Venmo Rewards, a program that offers automatic cash back when users pay with the Venmo card at some of their favorite retailers.
Venmo cardholders will automatically earn cash back on qualifying purchases, with rewards deposited directly into their Venmo account so they can use the funds to pay friends in the app, pay merchants that accept Venmo, transfer the funds to their bank account or debit card, or make more card purchases everywhere Mastercard® is accepted in the US.
Rewards also work seamlessly with the existing Venmo app. Users can track the amount of rewards they’ve earned on each transaction in the ‘My Feed’ section of the app. Venmo Rewards will begin to roll out starting next week, Venmo says.
Venmo’s first-ever rewards program kicks off with exciting limited-time offers, such as:
- 5% cash back at Target
- 5% cash back at Sephora
- 5% cash back at Wendy’s
- 4% cash back at Dunkin’
- 5% cash back at Chevron
- 4% cash back at Sam’s Club
- 5% cash back at Papa John’s
- and more.
More offers will be added in the future. Venmo cardholders can view the current offers that are available to them at any time by simply going to their card settings in the app. PayPal, Inc. uses the DOSH cash-back platform to manage the Venmo Rewards.
The following transaction types are never eligible to receive Venmo Rewards Powered by Dosh:
- ATM transactions;
- In-store cash withdrawals or cash back;
- Any Venmo payment that was not made using your Venmo card; and
- Any transactions identified by a merchant as not being eligible to receive Venmo Rewards Powered by Dosh;
You can read the full terms here.