The Salt Lake City has revealed that the solution will allow users to connect and use their Venmo accounts to get cash-back deposits, as opposed to the current system which has been in place since its launch last year, where shoppers have only been able to get cash back through Shopmium via Venmo owner PayPal.
The addition of this service is set to allow users of the savings app more flexibility in regard to cash-back redemption, as consumers look to shop smarter as we enter a more technologically dependant era.
Lisa Thompson, Savings Expert at Shopmium, said: “Getting cash back should be easy. With the impact of rising prices on everyday items, consumers are looking for ways to shop smarter, not harder.
“We’re thrilled to add Venmo as a payment option because it is a trusted, secure digital wallet that’s a natural fit to redeem cash.
“Together, Shopmium is bringing shoppers savings while Venmo is allowing them to access that cash immediately and grow their digital wallets.”
PayPal recently reported that 34% of U.S. consumers use Venmo, making it the second most-used payment service in the U.S. and the preferred app for quick and convenient payments for millions of consumers, particularly Millennials and Gen Z.
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