Venmo introduces major privacy updates
▼ Summary
– Venmo is testing a redesign that will set new users’ posts to be visible only to friends by default, a major privacy change.
– The update addresses past privacy issues, such as in 2021 when public Venmo data exposed President Biden’s account.
– New users can choose public or private settings during onboarding, and can change preferences later; a send-money screen will show post visibility before transactions.
– The redesign will roll out in stages, starting with a new feed on iOS and Android, followed by new Send, Money, and Rewards sections.
– Venmo aims to expand beyond splitting bills to include features like sending, spending, saving, borrowing, and investing.
Venmo has begun testing a significant app overhaul, and at the heart of the update is a crucial privacy change: new users will now automatically have their posts set to friends-only by default, rather than public. This shift marks a meaningful step for a platform that has faced repeated scrutiny over how it handles user visibility.
The adjustment comes after years of privacy headaches for the payment service. In 2021, investigative reporting from BuzzFeed News revealed that President Joe Biden’s Venmo account, along with those of his close associates, could be easily located because the app offered no way to keep contacts private at the time. Venmo patched that issue shortly afterward.
With the redesigned onboarding flow, fresh users who want their transactions to appear publicly, or remain completely private, can make that choice during sign-up. Those preferences can also be adjusted later in the settings menu. Additionally, an updated screen for sending money will clearly show whether a post is private, visible to friends, or public before the transaction is finalized.
“We want to give users more visibility and control over what they share because for us it’s critical that they actually have trust in the Venmo experience,” said Alexis Sowa, the SVP and GM of Venmo, in an interview with The Verge.
The redesign will roll out in phases. First, users on iOS and Android will see a refreshed feed layout over the coming weeks. Later, Venmo plans to introduce three new sections within the app: Send, where users can quickly reach close friends and access features like groups, gifting, and scheduled payments; Money, which centralizes crypto management and links to external apps and websites; and Rewards, a hub for tracking cash back and special offers from Venmo’s loyalty program.
It remains unclear exactly when the updated privacy onboarding will go live. Venmo has been asked for clarification and this story will be updated with that information.
According to Sowa, the redesign is also about repositioning Venmo for broader financial use. The app has traditionally been seen as “the place where you split a bill after a real-life shared experience happened,” she said. “Going forward we’re really excited to embrace and address a broader set of consumer needs, whether it’s sending money, spending money, saving, borrowing, investing. You could imagine a world where we play a much more prominent role in all of those areas of a consumer’s life.”
(Source: The Verge)
