SAN JOSE, Calif.—Venmo, the digital money-transfer service operated by PayPal, is ratcheting up pressure on users the company says owe it money for transactions that went awry, a new report states.
“In a bid to curb losses on its platform, Venmo is threatening to sic debt collectors on some users who carry negative balances in their accounts,” The Wall Street Journal reported, citing customer-service emails reviewed by newspaper.
Venmo also recently amended its user agreement to give itself the power to recover money its customers owe by seizing it from their other accounts at PayPal, the Journal noted.