Venmo intros Venmo Stash rewards program

Venmo, a peer-to-peer payments app, introduced Venmo Stash rewards program. With this program, customers can choose from bundles of brands to earn 5% cash back on Venmo debit card purchases, according to a press release.

Features of Stash include:

• Earn up to 5% back on bundled brands.
• 1% back on Venmo Debit Mastercard initially, followed by 2% when customers enable auto reload.
• 5% back when users set up direct deposit.

"Traditional rewards programs make customers work for points they may never use. Venmo Stash flips that model — rewarding spending and money management habits our customers have already built with Venmo," Diego Scotti, general manager of consumer at PayPal, said in the release. "Our cash back multiplier allows us to grow adoption and usage of our different products and recognize our customers for doing more with more value back to them."