Venmo refers to a mobile payment service. It is owned by PayPal. Its account holders can transfer funds to other through a mobile phone app. The sender and receiver must be the residents of U.S. Venmo has handled $159 billion in transactions in the first quarter of 2018. It was launched in 2009. Its main targets were friends splitting bills for movies, dinner, rent, tickets etc. It publishes every peer-to-peer transaction by default which is a feature shown by researchers to reveal sensitive details about users’ lives in some situations.
Venmo settled with FTC in 2018 about various privacy and security violations related to this and other features. It made changes to the corresponding settings. But it has been still criticized since it exposed users to privacy risks. A 2018 study analyzed around 200 million public transactions. It was found that Venmo revealed a huge amount of private details about users’ lives by default.
A researcher downloaded and analyzed seven million transactions in 2019. It was concluded by saying that although Venmo made some small improvements by limiting mass scraping. But the data has still put users at risk for different forms of cyberattacks.
Now recently an issue has been reported about this service. Users said that they have been facing an issue while using the service. Users said that their transactions are declined by Venmo whenever they try to do it. A user said that he has been trying to pay his rent like he always does. He sends 1,400 in his actual Venmo balance and not his debit card. Suddenly, one day it kept on declining his transaction and allowed him to send just 1,000. That was also not allowed and eventually, he was shown that the transaction has been declined.
Another user said that his transaction has been declined continuously for 2 weeks. Users have tried a lot of things to fix this problem but they are not able to do it. So, in case if you are facing similar issues, you can try some things to fix them. Firstly, if you are making a payment funded by a bank account, credit card, or debit card, then reach out to your bank or card issuer directly. If your bank or card issuer is declining the transaction, Venmo cannot see specifics about the decline or override it.
You should also try to use a different payment method for the payment. For that, you can use a different card. In case if you have checked with your bank or card provider, it is recommended to try the payment later. If it is very urgent, then try using a different payment processor like their parent company, PayPal.
