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.

Start your ads-free experience now!

Monthly Plan


Annual Plan


Billed as RM148.00/year

1 month

Free Trial

For new subscribers only

Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Next In Tech News

New York recovers $50 million for defrauded Gemini Earn crypto investors
Tempus AI shares jump 8% in strong Nasdaq debut as US IPO market thaws
Meta pauses AI models launch in Europe due to Irish request
Adobe surges as AI optimism fuels annual revenue forecast
Microsoft to invest $7.16 billion in new data centres in northeastern Spain
Bitcoin miners pivot to South-East Asia after�China crackdown
China elder care sector plugs smart gadgets to fill workforce gaps
French tech firms warn immigration curbs could threaten AI ambitions
Chinese football fans are pouring money into a food stall run by Singapore’s goalkeeper. Here’s why
How Amazon blew Alexa’s shot to dominate AI, according to more than a dozen employees who worked on it

Others Also Read