<p>PayPal Holdings Inc said on Friday it was cooperating with the US consumer watchdog regarding a civil investigation demand relating to its app Venmo's alleged unauthorised fund transfers and collections processes.</p>.<p>The demand from the US Consumer Financial Protection Bureau was made last month, the digital payment processor said in a regulatory filing. </p>.<p>Venmo is a popular mobile app for person-to-person payments in the United States. It competes with apps like Cash, which is run by payments processor Square Inc.</p>.<p>In the fourth quarter, Venmo, which has been part of PayPal since 2013, processed about $47 billion in total payments volume, up 60% from last year.</p>
<p>PayPal Holdings Inc said on Friday it was cooperating with the US consumer watchdog regarding a civil investigation demand relating to its app Venmo's alleged unauthorised fund transfers and collections processes.</p>.<p>The demand from the US Consumer Financial Protection Bureau was made last month, the digital payment processor said in a regulatory filing. </p>.<p>Venmo is a popular mobile app for person-to-person payments in the United States. It competes with apps like Cash, which is run by payments processor Square Inc.</p>.<p>In the fourth quarter, Venmo, which has been part of PayPal since 2013, processed about $47 billion in total payments volume, up 60% from last year.</p>