Venmo Makes Security Updates to Core Product Experience

March 12, 2015     By : Ray

Venmo recently made a few updates to its account notifications system, and will be releasing additional product updates in the near future. To enhance the security of Venmo accounts, any time there is a change to users’ primary email address, password, or phone number, users will immediately receive an email notification.

Here’s how the new feature works:

  • If the primary email on your account is changed, you will receive a notification to the old primary email in addition to a verification for the new primary email.
  • If your password is changed, you will receive an email notification.
  • If the phone number on your account is changed, you will receive an email notification in addition to verification of the new phone number.

Additionally, Venmo is also working towards being more responsive to users’ support inquiries. Venmo will  be rolling out multifactor authentication (MFA), among other product features, to further enhance user security and experience.

It’s only appropriate that Venmo is focusing on these essential product updates. Last month, Venmo had suffered a major outage. The service also faced several issues some days before the outage, which led to payments and cashouts not being displayed on a user’s feed.

Despite a few setbacks, Venmo is maintaining its strategy of offering more features to users to keep them loyal to the service. Venmo had added a slew of new features in November last year. These updates were also made with the intention of adding extra layers of security. These updates included:

  • Linking a bank account to Venmo using the username and password used for logging into the bank account. Before this feature, users had to manually link the app with their bank routing and account information. This would require using checkbooks for reference and punching in long routing numbers.
  • Integration of Touch ID to the Venmo mobile app for iPhone users. The app earlier employed the use of PIN or password.
  • Venmo Mentions: this is a social feature making use of monetary transactions as a medium. Users can mention their peers while making payments, similar to tagging others in comments on the payments page. The tagging is done ‘Twitter-style’ by simply mentioning peers’ twitter handles. This feature brought in an effective notification system to the user at the other side of the transaction.

Ray

Ray has keen interest in the area of devices, OS and wireless technologies. He is a Mobile Technology enthusiast and believes that Mobility is going to completely change the way we do Payments and Commerce. He wishes to share this belief with the world by providing such content through LetsTalkPayments. Ray has done his engineering as well as MBA.