PayPal has officially launched a new rewards initiative known as Venmo Stash, specifically aimed at users of the Venmo Debit Mastercard. This program incentivizes user engagement by increasing cash back opportunities based on the utilization of Venmo’s diverse offerings.
Users can earn rewards by making purchases at designated “curated bundles” of popular brands. However, this may lead to a lower-than-expected cash back return unless users consistently shop within these selected brands. Prominent brands included in these bundles feature McDonald’s, TikTok Shop, Uber, and Uber Eats, among others. Additionally, users will have the flexibility to switch their brand bundles every 30 days.
Cash back rates initiate at 1% for purchases within the chosen brand bundles and can escalate to 2% if users enable auto-reloads to maintain their Venmo balance. The highest earning rate is set at 5%, contingent upon customers receiving monthly direct deposits of at least $500 into their Venmo accounts. PayPal has indicated plans to expand the opportunities for earning rewards in the upcoming year.
It’s important to note that Venmo Stash includes a monthly reward cap, with specifics disclosed only during the enrollment process. Once the cap is reached, users will not accumulate any further rewards until the following month. This latest launch is part of PayPal’s broader strategy to attract new customers, which earlier included promotional offerings like a complimentary year of Perplexity Pro and early access to the AI-driven Comet browser.
