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Category: Venmo

Payment App Warning: How to protect yourself when using apps like Zelle, Venmo

More and more people have ditched cash and checks and are instead sending money to family and friends using mobile payment apps. But some popular apps are seeing some complaints and scams. Zelle is one of the fastest-growing peer-to-peer payment apps out there. The mobile payment app partners with many major banks like Chase, Bank of America, and Associated Bank, meaning some mobile banking apps use Zelle to allow its users to send or receive money, like Chase QuickPay. Zelle Read More

PayPal vs Venmo vs Zelle: Who’s the best?

The peer-to-peer payment app war is growing fierce. The use of P2P (peer-to-peer) payment apps is expected to grow by double-digits across all age groups through 2021. Just last year, P2P transactions exceeded $120 billion. Let’s take a look at three of the most popular apps–Paypal vs Venmo vs Zelle–and see who comes out the winner.  PayPal vs Venmo vs Zelle Popularity PayPal has proven to be the trusted source for online payments over the last 20+ years. Shortly after it’s IPO, PayPal was Read More

Venmo vs Zelle vs Cash App: pros & cons

Cashless payments are firmly entrenched in the lives of multiple people worldwide. Consumers appreciate the convenience and speed of new technologies, while tech giants and financial firms continue to improve existing solutions and develop new ones as well. Mobile payment is quite a popular option today. The idea of handling payments with just a mobile phone is not that new. However, today we can observe the peak of popularity of this technology. It would be wrong to call this situation Read More

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