P2P digital payment apps are convenient but risky, say experts


The US Consumer Financial Protection Bureau says P2P digital payment apps like Venmo, Zelle and Cash App are not very safe, and that users should be cautious with them. — Business vector created by gstudioimagen - www.freepik.com

Person-to-person digital payment apps like Venmo, Zelle and Cash App are convenient, but are they safe? The US Consumer Financial Protection Bureau says not very.

A report recently released by the bureau states more than 5,200 complaints were filed between May 2020 and April 2021. Since 2017, when the agency first began accepting complaints, they’ve received 9,277.

Play, subscribe and stand a chance to win prizes worth over RM39,000! T&C applies.

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

More! More! More! Tech workers max out their AI use.
Meta's longtime content policy chief Bickert leaving to teach at Harvard
Coming of age: Mega Cat Studios releases new 'God of War' video game
AI agents: They’re fun. They’re useful. But don’t give them the credit card.
Scientists use saliva for non-invasive, AI-based Parkinson's test
Apple hires ex-Google executive to head AI marketing amid push to improve Siri
Utility Entergy says revised Meta data-center deal to deliver higher customer savings
Sony to hike PlayStation 5 prices again as memory chip costs surge
NYSE-parent Intercontinental Exchange invests $600 million in Polymarket
SpaceX's listing stirs up social media frenzy, ticker bets

Others Also Read