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[aryan4]

Reuters stated that the Venmo mobile app, owned by PayPal, will be investigated by the US Consumer Financial Rights Protection (CFPB) for alleged unauthorized money transfers. Paypal made an announcement today. In the announcement, he said Venmo had received a civil investigation request from the US Office for Consumer Financial Rights Protection (CFPB) into unauthorized money transfers and collection processes.
What do you think PayPal can do in this situation?

 

[aryan4]

PayPal had taken a good initiative again, but now the news is that an investigation is underway. Even if there is no negativity, I think it is a situation that will waste some time.
PayPal may soon even work like a coin purse. I will definitely follow the developments in this area.

 

[sagefave]

Does this means that the venmo application is out of the development stage and already being used by consumers? If not I wonder how unauthorised financial transactions were carried out.

 

[achawaskey]

There is nothing I think they can do apart from defending themselves, the matter is still under investigation and PayPal should cooperate in order to show that they not hiding anything.

 

[Brain]

If there was nothing criminal about the app, then there shouldn't be any problem with the investigation that want to be carried out. I think it will even help boost the confidence users will have about the app

 

[BullyMaguire]

If i can use PayPal to recieve accept and sell Cryptocurrency directly on paypal that would be really awesome. I'm having a hard time looking for a good place to exchange and sell right now

 

[harry12]

PayPal had taken a good initiative again, but now the news is that an investigation is underway. Even if there is no negativity, I think it is a situation that will waste some time.
PayPal may soon even work like a coin purse. I will

 

[Josemendez]

First , it is good thing for the investors as PayPal is thus working towards providing more opportunities for them to make passive income.

 

[Mariappa45]

This year alone have seen whole lot of features brought in by PayPal, just to make sure they retain their status as number one online payment institution.

 

[Wisdom01]

Probably they are expanding their service , because it's another means for them to expand their revenue base and make more money ,also get more users in the platform

 

[Niftyicon]

Probably they are expanding their service , because it's another means for them to expand their revenue base and make more money ,also get more users in the platform

Well, Paypal seems to always stand out in whatever services it renders and I guess that the crypto services wouldn't be any different. This is what makes the platform one of the most competitive in the industry.

 

[Wisdom01]

Well, Paypal seems to always stand out in whatever services it renders and I guess that the crypto services wouldn't be any different. This is what makes the platform one of the most competitive in the industry.

I really hope so , because I know that many users really love to use their platform so they are doing constant upgrade to keep up.wiyh the huge amount of users in their platform

 

[Niftyicon]

I really hope so , because I know that many users really love to use their platform so they are doing constant upgrade to keep up.wiyh the huge amount of users in their platform

Those upgrades are the platform's way of keeping up with the ever increasing customer base. Not just about service delivery but also security and maintaining an already established good business reputation.

 

[Wisdom01]

So

Those upgrades are the platform's way of keeping up with the ever increasing customer base. Not just about service delivery but also security and maintaining an already established good business reputation.

Yeah their reputation is high for now and they probably don't want any circumstances to affect their reputation ,but keep it onward henceforth

 

[Ononivami1]

PayPal would need to follow the regulations of the country which they operate. If they are found wanting, then ,they should be ready to face the consequences.

 

[LutherKing]

Many people were waiting for this feature actually to be honest in my opinion. And that's the greatest develop that has happening recently