Why Experts Say PayPal and Venmo Need More Transparency

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Why Experts Say PayPal and Venmo Need More Transparency

A new coalition of digital rights organizations is demanding more transparent policies for users of PayPal and Venmo after nearly a decade of opaque account restrictions and closures.

The role social payment platforms play in our lives has grown over the past decade, as companies like PayPal, the parent of Venmo, increased their user base. But as the world increasingly moved online last year due to the pandemic, complaints to the Consumer Financial Protection Bureau related to “managing, opening, or closing a mobile wallet” more than doubled nationwide, compared to 2019. 

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Now, a group of digital rights advocates is saying enough is enough.

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