What can I do about this clause?

{'method': 'IN_APP', 'recipient': 'Venmo app: Settings > Privacy > Past Transactions', 'difficulty': 'EASY', 'action_type': 'EXPORT_DATA', 'instructions': "In the Venmo app, go to Settings > Privacy and change both your Default Privacy Setting and Past Transactions setting to 'Private' to prevent public visibility of your payment memos. Avoid entering sensitive descriptions in memo fields.", 'deadline_days': None, 'deadline_hours': None}

Which regulatory agencies enforce this type of clause?

{'agency': 'FTC', 'reason': 'The FTC has previously taken enforcement action against Venmo regarding misleading privacy representations about transaction data and memo field visibility.', 'complaint_url': 'https://reportfraud.ftc.gov/'}, {'agency': 'CFPB', 'reason': "The CFPB has authority over Venmo's collection and use of financial transaction data as a non-bank payment provider.", 'complaint_url': 'https://www.consumerfinance.gov/complaint/'}

What is the severity of this clause?

ConductAtlas classifies this Transaction Memo Field Data Collection and Use clause as high severity. Severity reflects the magnitude of rights affected, the breadth of users impacted, and the degree of discretion the platform retains.

Transaction Memo Field Data Collection and Use — Venmo

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What it is

Venmo collects and stores all the details you type into the memo field when making payments, including descriptions that may reveal sensitive personal information about what you're paying for.

Consumer impact (what this means for users)

Every memo note you write on Venmo is collected, stored, and by default made public, meaning sensitive payment descriptions (such as 'therapy,' 'rent,' or 'medication') can be seen by anyone and used by Venmo for data analysis and advertising purposes.

What you can do

⚠️ These actions may provide transparency or partial mitigation but may not fully address the underlying issue. Effectiveness varies by jurisdiction and individual circumstances.

Export Your Data

In the Venmo app, go to Settings > Privacy and change both your Default Privacy Setting and Past Transactions setting to 'Private' to prevent public visibility of your payment memos. Avoid entering sensitive descriptions in memo fields.

Cross-platform context

See how other platforms handle Transaction Memo Field Data Collection and Use and similar clauses.

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Why it matters (compliance & risk perspective)

Memo fields often contain sensitive information (e.g., medical, legal, or personal descriptions), and this data is stored by Venmo, shared with PayPal affiliates, and — unless privacy settings are changed — visible to the public.

View original clause language

When you use Venmo to make or receive payments, we collect information about the transaction, including the date, time, and amount of the transaction, the merchant's name and location, a description of the transaction, and the names and profile information of the parties to the transaction.

Institutional analysis (Compliance & legal intelligence)

REGULATORY FRAMEWORK: GLBA (15 U.S.C. §6802) protects non-public personal financial information, and transaction memo data arguably qualifies as such information. CCPA §1798.140 classifies account information and financial data as personal information subject to consumer rights. FTC Act Section 5 applies to any deceptive practices regarding memo field data collection or use. Depending on memo content, HIPAA may be implicated if users enter health-related payment descriptions, though Venmo is not a covered entity.

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Applicable agencies

FTC

The FTC has previously taken enforcement action against Venmo regarding misleading privacy representations about transaction data and memo field visibility.
File a complaint →
CFPB

The CFPB has authority over Venmo's collection and use of financial transaction data as a non-bank payment provider.
File a complaint →

Provision details

Document information

Document

Venmo Privacy Policy

Entity

Venmo

Document last updated

April 29, 2026

Tracking information

First tracked

April 18, 2026

Last verified

April 18, 2026

Record ID

CA-P-002800

Document ID

CA-D-00112

Evidence Provenance

Source URL

https://venmo.com/legal/us-privacy-policy/

Wayback Machine

View archived versions →

SHA-256

979f86236ba2b53263a271e1bb31a0a588f53685f6beddafe32eb3498c4e4bb1

Verified

✓ Snapshot stored ✓ Change verified

How to Cite

ConductAtlas Policy Archive
Entity: Venmo | Document: Venmo Privacy Policy | Record: CA-P-002800
Captured: 2026-04-18 09:42:16 UTC | SHA-256: 979f86236ba2b532…
URL: https://conductatlas.com/platform/venmo/venmo-privacy-policy/transaction-memo-field-data-collection-and-use/
Accessed: May 2, 2026

Classification

Severity

High

Transaction Memo Field Data Collection and Use