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P2p Payments

All articles tagged with #p2p payments

technology25 days ago•8 min saved

Heatwave Couch Sale Gets Hijacked: The Facebook Marketplace Zelle Scam

An ICU nurse’s viral TikTok reveals a Facebook Marketplace couch sale trick: scammers claim a $300 Zelle payment was flagged as fraudulent and push the buyer to send another $300 after a spoofed Zelle email, with transfers being irreversible. The incident underscores a broader rise in peer‑to‑peer fraud; Zelle warns to only send money to people you know, and Facebook suggests using Facebook Pay (which offers protections) instead of Zelle for Marketplace transactions.

via The Big Lead|

#facebook-marketplace #p2p-payments #phishing-emails

finance3 years ago•2 min saved

Senate Democrats urge payment apps to improve fraud prevention measures.

Senate Democrats, including Elizabeth Warren and Sherrod Brown, have written to PayPal and Cash App urging them to improve their fraud detection and prevention methods for users of their P2P payment applications. The lawmakers cited a Consumer Reports survey that found 9% of weekly P2P users had been the victim of a scam and 12% accidentally sent money to the wrong recipient. The companies' "consumer protection policies have not kept pace with the explosion in customer interest in the platform," the lawmakers wrote.

via CNBC|

#cash-app #finance #fraud-protection