Circle Crypto Company Attacks Paypal for Increasing Venmo’s Withdrawal Fee
Circle Attacks Paypal As Company Raises Venmo’s Withdrawal Fee
Paypal has recently been criticized for raising the fees of its mobile payment platform Venmo. Starting on November 6, Venmo will raise its fees for when account holders transfer money using their debit cards with 30-minute transactions to 1%. Previously, the fees were 0.25%, which has lead many users to express their dislike with the new approach that the platform has to fees.
Some companies like the Goldman Sachs-backed Circle have decided to criticize the company too for the decision. Circle has tweeted that they deliver a free and instant cross-currency P2P payment service unlike Paypal, which makes its service more efficient and cheaper.
Circle is a very well-known crypto company. It has platforms like Poloniex, a crypto exchange, and Circle Invest. However, the company does not have Bitcoin support on its main pay app. Despite this issue, it does have a zero-fee policy.
Circle Pay supports many features that help in payments like group functionality that let you send money to people via chats that can have up to 20 people.
The app has been recently surpassed in popularity by Square Cash, which enables Bitcoin purchases, but it still remains a very important app in the market.