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Month: November 2019

What Parents Should Know About Venmo

“I’ll just Venmo you” WHAT IS VENMO? Venmo is an app that allows users to send money electronically to other people. The service is owned and operated by PayPal. HOW DOES IT WORK? Users add their bank account information to their Venmo account during sign-up. Once the information is verified they can send and receive money from anyone on the app with a few taps. For each payment or request, the user has the option to write a short memo Read More

Venmo Opens Your Transaction History To Anyone Who Wants To Look. Here’s How To Fix It

Venmo’s latest promotional video asks “How do we know what we really shared this past year?” The answer is every transaction you made using the app. The video doesn’t tell you that. Venmo is a popular peer-to-peer mobile app that combines basic social media features with the ability to send and receive money from friends. It’s owned by PayPal and can only be used in the United States. Venmo would be useful except for one thing. The app’s default privacy Read More

Venmo launches instant transfers to US bank accounts

Venmo users get added functionality. But more importantly, Venmo is still searching for a road to monetization. Venmo announced support today of instant transfers to U.S. bank accounts. Users of the PayPal-owned payment app can move money out of their Venmo account to a bank account instantly. Take the Express train: Venmo already offered the ability to transfer money out of Venmo to a bank account, but that took one to three days. This new instant transfer service works in Read More

Should You Collect Rent With Venmo?

Landlords want their tenants to pay their rent on time and in full. Landlords dream of a hassle-free, streamlined rent collecting process. Companies like Venmo and Zelle allow funds to be transferred electronically. While it sounds easy, there are both pros and cons to these payment options that every landlord should be aware of. Can a Landlord Decide What Forms of Rent Payment to Accept? Landlords typically have the right to determine what forms of rent payment they will accept. Allowing at least two different forms of Read More

How Peer-To-Peer Payment Pioneer Venmo Grew Up And Got Serious

It started with a simple dare: All Mike Linshi had to do was buy a certain shirt from a store nearby and wear it. The bet was offered up in the easy evening hours after a music and innovation festival in Brooklyn two years ago. There was just something so funny about the thought of Linshi in that particular shirt that Iqram Magdon-Ismail and Andrew Kortina, cofounders of the New York–based peer-to-peer payment app Venmo, bet their colleague $50,000 he wouldn’t wear Read More

What to Do If a Stranger Sends You Money on Venmo

Peer-to-peer payment apps make it easy to split the bill with friends. But that ease of sending and requesting money with the press of a touchscreen button can get complicated if things don’t go according to plan. Reddit user equally posted yesterday that someone they didn’t know sent them $1,000 on Venmo. “I don’t know this person is and I’m assuming they sent it to the wrong user,” they wrote in r/personal finance. Several users quickly recommended the original poster not just Read More

Venmo Scams – Tips for Selling and Buying Safely

Venmo is an excellent tool for paying friends and buying products and services from select merchants. Payments are fast and easy, and the social element can add some fun to the process. But as with any payment method, you need to be aware of the limitations—and potential risks—of using the service. Is It Safe? When dealing with friends or paying a reputable business, Venmo is (for the most part) safe. The company protects your account information with the typical security Read More

How to Protect Yourself on Venmo Scams?

Despite the potential dangers, users can protect themselves from hacking by following some best practices. These include: Never store large amounts of money in your Venmo balance. Always transfer Venmo transactions to your bank account right away. Only use Venmo to exchange funds with people you actually know. Do not use Venmo to purchase things from individuals you have never met or have met online. Opt-out of Venmo’s social network. The default setting for a new Venmo account is “public,” Read More

How Safe Is Venmo and Is It Free?

Venmo has been billed as the payment app for Millennials and is known for making the most awkward part of the night (splitting the bill) more bearable. It’s also one of the most popular apps in the peer-to-peer (P2P) payments space. Founded in 2009, Venmo began as a payment system through text message. Then, to capitalize on the growing P2P economy, the company introduced a platform with an integrated social network in March 2012. It caught on quickly, and less than Read More

Venmo for Business Review

Merchants can use Venmo to accept payment. But is this social-friendly payment service a good option for your business? Read this review before you get started. Known as a peer-to-peer payment service, Venmo is slowly making headway into the business world. Venmo began in 2009 as an intuitive way to send money to friends and family. Owned by PayPal, it’s a mobile-only app user with an iOS or Android device can use. Today, more than millions of retailers accept Venmo Read More