Venmo Adjusts Stash Loyalty Program, Simplifying Reward Acquisition Criteria
Venmo is modifying its Stash loyalty program by removing mandatory requirements for direct deposits and auto-recharges. Users can now earn 5% cashback by spending $1,500 at specific retailers like Walmart and Target, aimed at increasing user engagement.
What are the key facts?
- 1Adjustment: simplified reward acquisition process
- 2Threshold: minimum monthly spending of $1,500
- 3Reward: 5% cashback
What happened?
Venmo announced a simplification of its Stash loyalty program. Users will no longer need to set up direct deposits or auto-recharges, and can earn a 5% cashback reward by reaching $1,500 in monthly spending at designated partner merchants like Walmart or Target.
What does this mean for cross-border sellers?
Changes to the loyalty program of payment platforms like Venmo may affect consumer spending preferences. Sellers should pay attention to how promotional activities of mainstream payment tools impact average order value.