![]() ![]() ![]() Our grade: Venmo is incredibly easy and convenient to use, and many people love it. In our case, it sent our GPS location information and the name of the person we interacted with to data firms Braze, GIF sticker maker Holler.io and anti-fraud company Pinpoint Secure Data Collector.Ĭomment: “Venmo’s publicly available privacy policy and user agreement outline that we may share certain data with third-party service providers who assist us with parts of our business operations and providing services to users.” What it doesn’t tell you: Every time you make a transaction on Venmo, it shares personal information with third-party firms. What it says: “Venmo is designed for payments between friends and people who trust each other." Note: All payments are, by default, set to “public” so that everyone on the Venmo social network can see who you’re paying and what you’re buying unless you change the setting to friends only or private. How it works: Link to your debit or credit card or bank routing and account number and pay friends electronically. Your funds don't get to the account for three days unless you pay a 1% fee to speed it up. What it is: A PayPal-owned “social” network to pay friends.Ĭost: Free to pay individuals, a 3% fee if used with credit cards.
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