Venmo to launch its first credit card in 2020

Venmo announced today its plans to launch its first-ever credit card. The card is being issued partnership with Synchrony,already the issuer behind Venmo parent company PayPal’s Extras Mastercard and Cashback Mastercard, in an expanded relationship. The move is meant to help Venmo, a still unprofitable arm of PayPal’s larger business, generate more revenue.
PayPal’s plans in this space were reported in April of this year by The WSJ, which said the company had been taking meetin