P2P payment applications such as Venmo are usually safe to use when the money sender or recipient is someone you know. However, all Internet applications are vulnerable to security breaches and therefore must have the highest standards of security.

Venmo uses data encryption technology to protect users from unauthorized transactions. If you accidentally lose your phone, you can sign out of Venmo’s desktop site to reduce the risk of fraudulent transactions.
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It also stores user data on servers located in secure locations. You can also set up a PIN to access the mobile app.