This analysis describes what Venmo's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
The updated terms expand the arbitration clause to explicitly state that users agree to resolve 'most disputes by arbitration on an individual basis, a class action waiver, and a jury trial waiver.' The terms note that arbitration involves 'less discovery and appellate review than in court.' Additionally, Venmo's cash back rewards program has been restructured with specific tiered thresholds: users earn 1% baseline cash back, 2% if they spend at least $250 in a month, and 5% if they spend at least $1,500 in a month. Rewards are only applied to qualifying transactions with 'Bundle merchants' and exclude cash advances, gambling, wire transfers, cryptocurrency purchases, and certain financial institution transactions. If you return a purchase or receive a refund after earning cash back, Venmo states it may debit or withhold rewards to offset the amount. You must close your account before any changes become effective if you do not wish to be bound by them.
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This Agreement will be interpreted, construed and enforced in all respects in accordance with the laws of the State of New York, without reference to its choice of law principles.
This Agreement is governed by the laws of New York without reference to conflicts of law rules.
The laws of the State of New York shall govern all matters arising out of or in relation to these Terms and any transactions hereunder, including the interpretation, construction, performance and enforcement thereof.
"the laws of the State of New York, without regard to principles of conflict of laws, will govern this user agreement and any claim or dispute that has arisen or may arise between you and PayPalExcerpt from Venmo's User Agreement
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The clause states: “the laws of the State of New York, without regard to principles of conflict of laws, will govern this user agreement and any claim or dispute that has arisen or may arise between you and PayPal”
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