Venmo
Mobile payment service owned by PayPal / From Wikipedia, the free encyclopedia
Venmo is an American mobile payment service founded in 2009 and owned by PayPal since 2013. Venmo is aimed at users who wish to split their bills. Account holders can transfer funds to others via a mobile phone app; both the sender and receiver must live in the United States. Venmo also operates as a small social network, as users can observe other users' public transactions with posts and emoticons.[1] In 2021, the company handled $230 billion in transactions and generated $850 million in revenue.[2] Users can view transactions on the Venmo website but cannot complete transactions on the website.[3]
Original author(s) |
|
---|---|
Developer(s) | Venmo, LLC (subsidiary of PayPal) |
Initial release | 2009; 15 years ago (2009) |
Operating system | Android, iOS |
Available in | English |
Website | venmo |
By default, Venmo publishes every peer-to-peer transaction (excluding the amount), a feature shown by researchers to reveal sensitive details about users' lives in some situations.[4][5] In 2018, the company settled with the Federal Trade Commission (FTC) about several privacy and security violations related to this and other features, and made changes to the corresponding settings. However, Venmo continued to attract criticism for exposing users to possible privacy risks.[5][4]