Venmo Removes Public Feed - Major Redesign Details

Venmo Redesign Prioritizes Privacy and New Features

Venmo, the payment application owned by PayPal, is implementing a substantial redesign. This update focuses on enhancing user privacy controls and prominently showcasing the app’s more recent functionalities.

Changes to the Social Feed

The company has decided to discontinue the public, global feed of user transactions. Instead, users will now exclusively view a “friends feed,” displaying transactions only from their established connections.

Venmo has historically navigated the complexities of balancing social features with user privacy expectations. Past issues prompted a settlement with the FTC regarding privacy disclosures and transaction security.

Addressing Past Privacy Concerns

Previously, a default setting allowed all transactions to be publicly visible, a practice the FTC deemed inadequately explained to users. The settlement mandated informing users about limiting transaction visibility.

Recent incidents, such as the identification of President Biden’s Venmo account by BuzzFeed News due to friend list privacy settings, further highlighted these concerns. The company subsequently introduced friend-list privacy controls.

New Privacy Settings and Visibility

The updated app will emphasize the friend-list privacy setting, allowing users to control profile visibility on others’ friend lists. Users retain the ability to manage contacts, block individuals, and adjust transaction privacy – public, private, or friends-only – both during and after posting.

With the removal of the global feed, public transactions will only be viewable by non-friends who directly visit a user’s profile.

Enhanced Feature Discovery

Beyond privacy, the redesign aims to improve the discoverability of Venmo’s newer features.

A new bottom navigation bar will enable users to easily switch between the social feed, Venmo products like the Venmo Card and cryptocurrency options, and their personal profile.

Expanded Crypto and Card Features

The “Cards” section will allow Venmo Credit and Debit cardholders to manage their cards and access rewards. The “Crypto” tab will provide access to learning resources, real-time trends, and the ability to buy, sell, and hold cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.

Venmo initially supported crypto earlier this year, following a similar move by its parent company, PayPal. Previously, the crypto option was less prominent, contributing to the app’s cluttered interface.

New Payment Types and Purchase Protection

The update introduces support for new payment types and expanded purchase protections, announced last month and launching on July 20. Users can now specify if a transaction is for “goods and services,” qualifying it for Venmo’s purchase protection plan, even without a business account.

A 1.9% plus 10-cent fee applies to these transactions, which initially met with some user resistance. However, this change is expected to contribute to increased Venmo revenue.

Growth and Revenue Projections

PayPal reported a 32% user growth for Venmo in 2020, reaching 70 million active accounts. The company anticipates nearly $900 million in revenue from the app this year, driven by initiatives like crypto transaction fees.

Modernized App Design

The redesign also modernizes the app’s overall look and feel, addressing its previously dated and cluttered appearance. The removal of the hamburger menu simplifies navigation, and the app utilizes new iconography, an updated font, and increased white space for a cleaner aesthetic.

The social feed’s importance is somewhat diminished, with other features receiving equal prominence through dedicated tabs.

The redesigned Venmo app is rolling out to select customers today and will be available to all U.S. users in the coming weeks.