Venmo is reportedly testing a debit card for teenagers that would connect to their parents account; the new card would allow for kids to use the card when needed but parents would have the ability to set spending limits and notifications on usage; Venmo would not be the first in the space as there are a number of options for parents to get a debit card for their kids; Venmo hopes this will increase the incentive to use Venmo and get more adults to sign up for the app; TechCrunch asked about the new feature and Venmo responded saying, “Venmo is constantly working to identify ways to refine and enhance the user experience. We frequently test product offerings to understand the value it could have for our users, and I don’t have anything further to share right now.”; the company would need to launch quickly to ensure they don’t fall behind other digital banking apps who have indicated their cards are due to market soon. Tech Crunch
