Venmo instant transfer suddenly stops working

JC Torres - Mar 22, 2018, 9:39pm CDT
Venmo instant transfer suddenly stops working

The mobile payment system just got a little bit interesting. Just a while ago, Google announced the ability to send or request for payment, via Google Pay of course, using Google Assistant. This direct peer-to-peer payment has been one of the key features of certain mobile payment systems, including PayPal’s Venmo. Somewhat suspiciously, Venmo’s system is now under fire after it abruptly pulled one of its most popular features, the ability instantly transfer money from Venmo to a linked bank account.

PayPal keeps its own balance so that you can immediately use that money rather than draw from your bank account and whatever hassle that may incur. Not much of a problem when paying for something, but that means you won’t be able to immediately use the money sent or paid you, as you would have to wait for a day or two at least for that money to end up in your bank.

That’s why Venmo’s instant transfer feature has become its winning feature. For a very small fee, you can immediately get that money in no time flat. That makes Venmo an ideal platform for paying your friends or getting paid. That is also why there is no small amount of outcry when that feature goes down or disappears.

Venmo says it’s making some changes to the feature. Of course, it didn’t bother to warn users before it yanked it out. What those features are is still anyone’s guess, but it’s interesting that it happened just as Google announced a feature that might have preempted PayPal’s plans.

This isn’t the first time this happened either. It also happened suddenly in February, though the service was eventually restored. It does, however, cast Venmo in a negative light when it pulls out its most valuable feature so abruptly and without warning.

VIA: The Verge


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