PayPal has inserted a Venmo cash back rewards program that the company calls Venmo Stash. The program is designed to scale rewards with user participation, offering more cash back to those who use the platform’s suite of products the most.
Rewards are earned when users spend with their Venmo Debit Mastercard, but only on “select bundles” from certain brands. Unless users are prudent and only use their Venmo debit cards on these brands, this could mean net monthly cash back well below what is advertised.
in the company advertisementPaypal shows brands like McDonald’s, TikTok Shop, Uber and Uber Eats bundled together, while another bundle shows Amazon, DoorDash, Domino’s and Walgreens. Users can change their brand package every 30 days.
Cash back levels start at 1 percent when users spend at their chosen brands and increase to 2 percent when automatic refills are turned on to maintain a balance on Venmo. The highest tier is 5 percent cash back, which requires customers to receive monthly direct deposits into Venmo of at least $500. PayPal says it will introduce more ways to earn rewards next year.
The Venmo Stash fine print mentions a monthly reward limit, the amount of which is only visible during the sign-up process. Once this limit is reached, no more rewards can be earned until the next calendar month.
PayPal has been taking steps lately in hopes of attracting new customers. Earlier this year, it offered a free year of Perplexity Pro to its users, along with early access to the AI-powered Comet browser.
