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July 20, 2021Blog Posts

Venmo finally ditches controversial feature over privacy concerns

New York Post

Venmo is finally ditching a notoriously controversial and unsettling feature — the ability to see strangers’ transactions.

The PayPal-owned app — which rocketed to success by combining easy mobile payments with elements of social media — revealed Tuesday that it’s axing its “global feed” that had allowed customers to see payments between other users even if they had no connections in common.

Venmo, which has more than 70 million users worldwide, had taken flak from privacy advocates for years over the global feed feature, as well as the fact that it publicly displays users’ friends.

In 2018, a coder and privacy researcher created a Twitter account that posted public transactions from Venmo — including what were apparently payments for drugs and requests for cash from sugar daddies, Vice reported. The researcher said the purpose of the project was to show how much information Venmo users were inadvertently sharing online.

Branding - Venmo

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New research from The Strawhecker Group analyzes key trends and consumer attitudes.

Download a free infographic covering several findings from the full report.

Consumers have increasingly adopted Buy Now, Pay Later (BNPL) services for multiple reasons; a desire for financial flexibility, a way to avoid incurring credit card debt, or to purchase items outside of their budgets. However, despite its popularity, consumer debt and missed payments have led to calls for additional research and regulation. Read the press release.

To take a closer look, The Strawhecker Group (TSG) conducted a survey of over 1,500 U.S. consumers in early 2021 with the goal of understanding domestic attitudes and perspectives on the use of BNPL services. The complete findings, a selection of BNPL provider profiles, and market landscape details can be found in the firm’s new report Buy Now, Pay Later: An Analysis of Key Trends and Consumer Attitudes.

Highlights of this extensive 81-page report include:

  • Buy Now, Pay Later Background
  • Key Players in the Buy Now, Pay Later Space
  • Buy Now, Pay Later Consumer Survey
  • Concluding Thoughts: The Future of Buy Now, Pay Later
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