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.