Finally! The day has arrived – PayPal and Venmo are finally letting you send money directly between them. But before you get too excited about this long-awaited feature, there's a crucial setting you need to know about.
That's right, after years of these two giants of the payment world seemingly ignoring each other, the ability to transfer funds directly is becoming a reality, starting this November. Think about it: since PayPal acquired Venmo back in 2014, we've been waiting for this! You'll be able to search for a Venmo user from your PayPal app (and vice versa) and send cash directly. It's a feature that's been a long time coming.
Now, while this is exciting news, there are a few things to keep in mind. For example, will there be extra fees for this convenience? Representatives from both PayPal and Venmo haven't yet clarified this. But, for now, let's celebrate the arrival of this basic, common-sense feature.
But here's where it gets controversial...
Remember those early days of Venmo when your payment details were automatically public? It was a privacy nightmare, wasn't it? Venmo has improved this over the years, but there are still potential pitfalls.
With this new integration, it seems PayPal users can find any Venmo user if they have their phone number. This could potentially open the door to scams or unwanted spam.
So, what can you do? Once the update rolls out in November, head into your Venmo app. Go to Settings (the gear icon), then Privacy, and then Find Me options. There, you can adjust who can find you on PayPal.
What are your thoughts on this new feature? Do you have any concerns about privacy? Share your opinions in the comments below!
