Mobile Applications

Venmo App Goes Down Monday

Venmo App Goes Down Monday

Popular financial app Venmo briefly went down for a few hours on Monday (Dec. 30), the company confirmed, according to reports.

The desktop version of the payment software was also affected in the outage.

According to Down Detector, an online platform tracking website issues, Venmo’s problems increased in the late morning and continued into the early afternoon. Thousands of users reported multiple difficulties during the time period, including complaints about cards being declined as well as an inability to pay various bills and rent.

“We are currently experiencing an interruption in service on the Venmo mobile app,” the company wrote on Twitter. “Our teams are currently working to resolve the issue. Our priority is to ensure we’re giving our customers the best experience, and we apologize for any inconvenience.”

The peer-to-peer (P2P) payments platform confirmed its service was restored and available again as of 4:40 p.m. Eastern time.

“Our team fixed the issue, and we apologize for any inconvenience this may have caused our customers,” Venmo Support tweeted Monday afternoon.

The company has not specified what caused the frustrating issue and did not immediately respond to a request for comment.

In other Venmo news, the company recently debuted a cash-back rewards program for its branded Mastercard debit card at specific retailers, the company announced in a press release in October. The Venmo app’s broad appeal as well as digital payments overall have moved beyond core millennial users to become popular with consumers of all ages enjoying new, more immediate and accessible financial transactions.

“Venmo … offers an example of P2P expansion,” PYMNTS said in its annual How We Will Pay study. “The company has an option to transfer money to the bank without a debit card for the same fee. The standard bank transfer — which is free, and takes between one and three days — is still available.”

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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