[DatBear]

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Once you understand that, you can see why Venmo doesn’t want users to make merchant transactions, by which it really means payments outside their networks of close acquaintances. (“Merchant transactions,” Vaughan tells me, “is sort of the catchall for the things that we can’t predefine.”) The analogous real world example is that you wouldn't leave a pair of tickets in a mailbox just because someone sent you a note promising to drop off an envelope of cash at a later date.

Isn't that why you're using a PAYMENTS platform, and not a PROMISE NOTE platform? When you receive or send a payment on a PAYMENTS platform, that's not, and shouldn't be, equivalent to a note promising cash. It should be the cash.

Since it's not, is it not fraudulent to say that it is and pass it off as that?