By Larry Chiang
First In, First Out. That’s accounting, “FIFO“.
First In, Last Out is FILO
Venmo is doing First In, Never Out.
Exactly what am I exposing!?!
VenMo. I’ve $203.00 in account and just paid back my Blockchain exec friend Sonny Singh, $205. Now there are a ton of fees because I was 2.00 short in a 205.oo xFer.
I’ve 203.00 in account
I wanna pay $205. But, then VenMo charged me 211.15!!!
and just paid a ton of fees because venMo is performing First In, Never Out
I was 2.00 short in a 205.oo xFer.
I love #finTech because there are no rules!!
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CEO of Duck9, Larry (@6502838008) |
The $203… still sitting there
Obviously, VenMo should have just charged me $2.
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Larry Chiang (@LarryChiang) |
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.@venmo i have $275,000 left of credit line so I should not care about a new $205 charge…, but I do!!!
Please pull the balance of $203 first prior to charging a whole new $205 on Amex. U should only “be charging $2.oo” 205-203 =$2.00. pic.twitter.com/UC48CYM6NI |
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VenMo is part of PayPal but it’s got an entirely weird set of TOS (terms or service). PayPal. Well, PayPal lets problems stew too…
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Dan Kimerling (@dkimerling) |
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@LarryChiang could not agree with you more… Paypal could have eliminated all those problems
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