“We’ve started to see a rise in usage from older age groups, or ‘silver tech,’ amidst the pandemic,” a Venmo spokesperson said in late 2020. Venmo has more than 60 million users in the United States, including a quickly growing set of older customers. That’s the same as the entire economy of Ukraine, or twice the size of Venezuela’s or Bolivia’s.Īnd the pandemic made the contactless payment giant even more popular. To get an idea of how big the online payment giant is, consider that about $150 billion moves on its platform every year, according to its owner, PayPal. If you’ve ever made a payment online, chances are you have heard of Venmo. For more information, see How We Make Money.

Some links on this page - clearly marked - may take you to a partner website and may result in us earning a referral commission. If Venmo already 'remembers' some of your devices, you might want to erase them to enable 2FA.We want to help you make more informed decisions. With Venmo's 2FA settings, you can add remembered devices to your account, so you don't have to use 2FA on your devices every time you log in to your Venmo account. However, this convenience doesn't keep your account fully secure. Venmo uses SMS 2FA, which isn't the most secure kind of 2FA, but it's better than nothing. This changed in 2015, and to Venmo's credit, the setting is enabled by default on all accounts.Įvery time you sign in from an unknown device, Venmo will ask you to verify your identity. When Venmo first launched, it surprisingly didn't include 2FA in its login options.

You can confirm your identity either by entering a digital code that's sent to you via SMS, or by using an authentication app installed on your phone. If you're not familiar with 2FA, it's an added layer of security that allows you to confirm your identity before you can access your accounts. And of course, where your finances are in play, it's a no-brainer. By now, using two-factor authentication (2FA) wherever it's available is a wise choice.

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