When used outside of this intended purpose - like for exchanges with strangers - the security risks increase due to inherent flaws in the system. But it was designed to be used with people you know and trust. Generally, Venmo is safe, because it has several security measures to protect money transfers. Venmo’s increasing popularity and its wider use has led to a surge of Venmo-related scams. Though intended for friends and family, Venmo’s ease-of-use has made it popular for transfers between strangers too - mostly for buying/selling goods. Here are situations that Venmo makes easier:Īs with many other successful apps, Venmo is centered on convenience (and it's available for both Android and iOS devices). The difference is that Paypal is more associated with business transactions, whereas Venmo’s payment service is designed to be used between friends and family. Venmo is owned by PayPal - another popular payment service app for money transfers.
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