Paypal, the famous online payment website has expanded its services. Venmo, Paypal's newest peer-to-peer payment platform, provides an easy to use app that allows easy financial transactions.
Venmo and Paypal dominate the cyber world of peer-to-peer and b2b payments. The goal of these services, provide easy and flexibility. Today, people are using their mobile devices for all types of payments. Mobile devices, including cellular telephones, are the center from which housewives, entrepreneurs, and executives of all types conduct their business of all types.
Paypal's Venmo app allows users to request and make payments from a mobile device. The easy of use is a major key to Venmo's success.
Paypal's success started a decade ago. When consumers started shopping through websites like Ebay or Amazon they needed a secure way to ensure the transaction was both legitimate, legal, and safe.
A federal court complaint says that Paypal has misled consumers with a credit product on its popular online payment service. The Consumer Financial Protection Bureau is looking for $15 million for consumers and a $10 million fine against Paypal. You may have seen the Buy It Later option when you went to pay for an item online with Paypal. I guess some consumers didn’t view this option as credit. Richard Cordray of the CFPB thinks that is the case.
As the first half of Cyber Monday ended, sales were brisk, as buyers bought lots of discounted items from stores online all over the globe.
That is impressive, considering that last year sales for the same day were over 1 billion in the US, and many shoppers had already spent a significant amount shopping on Black Friday.