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PayPal has entered into a $175,000 settlement with the Texas Attorney General's Office after the state alleged that PayPal's Venmo application violated portions of the Texas Deceptive Trade Practices Consumer Protection Act.
In the Matter of State of Texas and PayPal,
Inc. (Tex. Dist. Ct. May 2016)
PayPal has entered into a $175,000 settlement with the Texas
Attorney General's Office after the state alleged that
PayPal's Venmo application, a popular app used to transfer
money and marketed as a convenient way to share payments among
friends, violated portions of the Texas Deceptive Trade Practices
Consumer Protection Act. The Texas AG alleged that the Venmo app
used consumers' personal phone contact lists without adequate
explanation or disclosure as to how this information would be used
by the company. Further, the AG alleged that PayPal failed to
disclose how users' transactions and communications with other
users would be shared. In addition to paying monetary damages,
PayPal agreed to several alterations of its business practices,
including seeking permission from users prior to accessing their
contact lists and informing users how such information will be used
if permission is granted. View the decision.
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