Venmo just turned splitting the bill into a credit card rewards category
Splitting the dinner bill with your friends could soon earn you a little extra cash. Venmo is overhauling its credit card rewards with a new perk designed specifically for splitting the bill. Starting October 15, new Venmo Credit Card customers can earn up to 4% cash back on eligible dining and entertainment purchases, but there’s a catch: To get the full 4%, you’ll need to make your friends pay…
Venmo is introducing a new feature called "split-to-earn" that will reward customers for splitting dining and entertainment bills with friends. Starting October 15, new Venmo Credit Card holders can earn up to 4% cash back on eligible purchases. To receive the full 4% cash back, friends must pay back the charges within 30 days. The card will automatically give 3% cash back on dining and entertainment purchases made with Venmo, including restaurants, food delivery, streaming services, and event tickets.
If the purchase is split with a friend and they pay back the Venmo transaction within 30 days, an additional 1% cash back is earned, totaling 4%. Venmo's general manager, Alexis Sowa, stated that the new feature is based on how customers naturally spend money with friends and is an industry first. Existing Venmo Credit Card holders can either continue with the old rewards system or switch to the new one in early 2027 without applying for a new card.
Written by urgent.news from Fast Company's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
