Even though Venmo settled with the FTC in 2018 concerning possible privacy and security violations, the company still attracts attention for the unnecessary exposure of its users to privacy risks. Even though the published data excluded the amount in each peer-to-peer transaction, the practice was still criticized as a privacy risk. Venmo’s default design was to publish every transaction made by its users publicly. Venmo was launched as a solution for cashless transactions but that does not mean that it did not attract its fair share of controversies. During the first quarter of 2018, Venmo was responsible for handling the sum of $159 billion in customer transactions. Launched in 2009 with the founders aiming at making splitting bills among friends easier, Venmo soon gained popularity among people of all age groups.

Venmo users have to be US citizens for using the app. Facilitating fund transfers via the mobile app is supported on both Android and iOS. Both companies are prominent mobile payment services. Today, let’s know Who Owns Venmo? Venmo is owned by PayPal.

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