If Venmo users forgot that the popular payment app makes transactions and friend lists publicly visible by default, they were reminded multiple times over the last several weeks. In April, the Daily Beast reported that outspoken Florida Rep. Matt Gaetz had made $900 in payments to a friend, who then distributed the same amount among three young women, one of whom was 18 years old and a mutual connection of both men on Venmo. Gaetz’s transactions were reportedly visible on PayPal-owned Venmo for anyone to see.
Gaetz’s friend, Joel Greenberg, pleaded guilty on Monday to federal charges, including sex trafficking. Gaetz has denied any wrongdoing, with a spokesperson reiterating to reporters on Friday that the congressman has “never paid for sex.”
That member of Congress isn’t the only politician whose Venmo account was easily seen. On Friday, BuzzFeed reported that it found President Joe Biden’s Venmo account with ease, following a New York Times story that mentioned the commander-in-chief uses the app. Biden had set his transactions to private but, as is the case with all Venmo accounts, his friends list was visible to the public, opening access to a broader network of connections in the president’s life and creating a potential security risk.
The Strawhecker Group (TSG) and the Electronic Transactions Association (ETA) surveyed over 500 U.S. SMBs in April to understand how the COVID-19 pandemic is currently impacting SMB operations and payments acceptance, and how the market compares to April 2020.
Download the full 35-page report. The report helps the payments industry understand how to best support the SMB community as they continue to manage the pandemic, while moving towards a goal of greater recovery.
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