Governance

According to Jose Van Djick’s second chapter in his book The Culture of Connectivity: A Critical History of Social Media, when analyzing the governance, or the laws and regulations of a social media platform such as Venmo, “one needs to understandhow, through what mechanisms, communication and data traffic are managed,” (Djick 38). Dijck states that these rules are now articulated through the apps websites and on their end-user license agreements and terms of service.  On Venmo's end-user license agreement or user agreement found on their website, the service lists the rights of the user when they sign up for the service as well as what the user can expect from the service. Some of these include that the user is aware that the contract they are signing is between Venmo and themselves and not with third parties such as Apple, Google, or their mobile carrier. The agreement also notes the amount or size of money being transferred can be imposed at Venmo's discretion. Van Djick also states in the chapter "a site's governance rules are not set in stone: they are a constant target of negotiation," (Djick 38). Venmo's User Agreement page also states that the user agrees to receive notices on any changes and updates to the services Venmo provides. By stating so on this page they are protecting themselves and the users. 

Sources:

Van Djick, Jose, "Chapter 2: Disassembling Platforms, Reassembling Sociality," The Culture of Connectivity: A Critical History of Social Media, Oxford, NY, New York, 2013

Venmo User Agreement. September 13, 2016. Accessed February 20, 2017. https://venmo.com/legal/us-user-agreement/