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Fed’s new instant payment system could be trouble for PayPal, Venmo (arstechnica.com)

submitted 1 year ago by L4s@lemmy.world to c/technology@lemmy.world

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Fed’s new instant payment system could be trouble for PayPal, Venmo::The Fed's goal is to connect 9,000 financial institutions nationwide.

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[–] TenderfootGungi@lemmy.world 21 points 1 year ago (1 children)

Venmo is owned by PayPal.

[–] BombOmOm@lemmy.world 8 points 1 year ago (1 children)

While that is true, I have also had issues with Venmo that I have never had with PayPal. I have no clue what the back-end difference is, but I stopped using Venmo after they decided a small payment to a friend was suspicious and locked my account. Meanwhile, payments to that same friend via PayPal have been fine.

[–] 6daemonbag@lemmy.dbzer0.com 12 points 1 year ago

I've been locked out of my PayPal since 2005. On their end my account is somehow both locked and nonexistent, creating a loop of error messages. Last time I tried to have a real human fix it they basically shrugged, and that was about 7 years ago haha