*By Madison Alworth* Both Mezu and Venmo are transaction-based finance apps ー but the co-founder of Mezu insists his new platform is quite different. The primary difference? Privacy. "\[We're\] giving you the ability to exchange money with people that you know, but also to exchange money without having to actually share your contact information, which is the major issue with Venmo right now," Mezu CEO and co-founder Yuval Brisker said Friday in an interview on Cheddar. The Cleveland-based operation envisions a world in which cash is less accepted and less convenient, and credit cards and digital payments reign supreme. While Venmo users can send money to anyone on the app, Brisker pointed out that it's not necessarily safe or appropriate to Venmo your bartender a tip. "We developed an app that lets two people who know each other, but also two people who don't know each other... exchange money without having to share their contact details, protecting their privacy first," Brisker said. Each time money is exchanged on Mezu, a one-time encrypted code is created for the transaction. Money on the app lives in an account protected by partner MainStreet Bank, an FDIC-insured company based in Virginia. And in an age of heightened data security concerns, Mezu said that all transaction information on the app remains encrypted. Brisker said that Mezu operates more like cash ー untraceable and secure ー whereas Venmo is more akin to writing personal checks from your bank account. "The irony with Venmo is that, in the most private transaction, most people are broadcasting it out to the world," Brisker said. "I think that that's kinda ending as we see that there's been a lot of violation of people's privacy in those terms." Mezu, which was founded in 2017, recently raised a $10 million Series A round and is available on Apple's App Store and the Google Play Store. For full interview [click here](https://cheddar.com/videos/mezu-no-cash-no-problem).

Share:
More In Business
FBI’s NBA probe puts sports betting businesses in the spotlight
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
Tesla’s profit fell in third quarter even as sales rose
Tesla, the car company run by Elon Musk, reported Wednesday that it sold more vehicles in the past three months after boycotts hit hard earlier this year, but profits still fell sharply. Third-quarter earnings fell to $1.4 billion, from $2.2 billion a year earlier. Excluding charges, per share profit of 50 cents came in below analysts' estimate. Tesla shares fell 3.5% in after-hours trading. Musk said the company's robotaxi service, which is available in Austin, Texas, and San Francisco, will roll out to as many as 10 other metro areas by the end of the year.
Load More