Mark Mason
Well-known member
Venmo Increases Fees, Shuts Down Features After Unexpected Fraud Losses
Venmo has disabled certain new features following unforeseen losses due to fraud.
In early 2018, the popular payment app reported a significant instance of fraud, much higher than anticipated. Losses from fraud weighed in at 0.4% of total volume for the first quarter of the year, 40% higher than the projected 0.24% figure. Because of this, as Venmo told Fortune, the service has resorted to rolling back certain features:
Read more - https://www.dashforcenews.com/venmo...-down-features-after-unexpected-fraud-losses/
Venmo has disabled certain new features following unforeseen losses due to fraud.
In early 2018, the popular payment app reported a significant instance of fraud, much higher than anticipated. Losses from fraud weighed in at 0.4% of total volume for the first quarter of the year, 40% higher than the projected 0.24% figure. Because of this, as Venmo told Fortune, the service has resorted to rolling back certain features:
Read more - https://www.dashforcenews.com/venmo...-down-features-after-unexpected-fraud-losses/
