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> Venmo is the same way. If Venmo reverses payment due to claims of fraud, then this is pretty much the exact opposite of Zelle. That makes Venmo more like Pay
by panarky 9y ago
> Venmo is the same way.
If Venmo reverses payment due to claims of fraud, then this is pretty much the exact opposite of Zelle. That makes Venmo more like PayPal, with a dispute resolution process.
Zelle doesn't care if your counterparty is a scammer. If you initiated the payment, the money is gone.
- ianburrell 9y agoThere are two different kinds of fraud. One is where there is fraudulent payment like from account being taken over. Venmo and Zelle can reverse those transactions. The other kind is where purchase is fraudulent. Venmo and Zelle don't offer any protection for purchases or sales. It is only credit cards and equivalent that offer purchase protection.
- panarky 9y ago> It is only credit cards and equivalent that offer purchase protection And PayPal, Payza, etc.