Venmo announced it was elimination of global social feed on Tuesday, a notorious feature of the payment app that allows strangers to view your payments that you make and receive at Venmo (through Bloomberg).
Now Venmo’s social elements are limited to your real friends in the app’s “friends feed” without having to change any features of the app. The company buried the change in a blog post detailed update to Venmo app. Venmo writes:
As part of our ongoing efforts to continually develop the Venmo platform by staying true to the core of the Venmo experience, we’re removing the global feed, and friends ’feed is now the only social feed visible in the app. The Venmo community has grown to more than 70 million customers, so with this change, customers can connect and share meaningful moments and experiences with key people.
Until recently, Venmo also didn’t offer users any control over who saw their friends list in the app, which is possibly a charge completely different from seeing the content of an event. After Buzzfeed news found President Biden’s Venmo account and the accounts of the people in his insiders through the friends list, the company added increases privacy To increase the visibility of Venmo contacts.
In addition to the significant change actually seen in the Venmo application, the company also allows users to indicate whether they are paying for goods or services and whether they are receiving Venmo’s purchase protection program. Anyone who accepts payment for goods or services is charged a small fee to receive their money (1.9 percent of the transaction plus 10 cents), but Venmo says it can cover buyer and seller rebates, which brings Venmo better purchase protection the parent company PayPal provides.
According to Venmo, an updated application experience should be available in the coming weeks.