Fact check: Claim about Venmo's fee changes is missing context The claim: Venmo is giving away $100,000 to distract from its new transaction fees Venmo users splitting a dinner bill, chipping in for a gift or paying back a pal can quickly transfer money. But the digital payment app’s announcement in late June that it was changing some fees sparked criticism. The announcement came around the same time the company ran a $100,000 giveaway on social media. “Venmo is giving away $100k to distract you from their announcement of charging transaction fees,” a meme shared June 28 on Instagram claims. The promotion came four days after the company announced changes to transactions fees, but USA TODAY could find no evidence the two were connected.