Avoid Making Costly Mistakes with Your Mobile Payment Apps

Avoid Making Costly Mistakes with Your Mobile Payment Apps


There used to be a time when one roommate split the cost of rent with another by writing a check. Who still owns a checkbook these days? Of course, those days are nearly long gone, in large part thanks to “peer to peer” (P2P) mobile payment apps, like Venmo, Zelle, or Cash App. Now with a simple click on an app, you can transfer your friend money for brunch before you even leave the table. Yet for all their convenience, P2P mobile payment apps could cost you a couple of bucks or more if you’re not on the lookout for things like fraud. The good news is that there are some straightforward ways to protect yourself. 


You likely have one of these apps on your phone already. If so, you’re among the many. It’s estimated that 70% of adults in the U.S. use mobile payment apps like these. And chances are that you have more than just the one. Only 25% of adults in the U.S. use just a single payment app.   


Yet with all those different apps come different policies and protections associated with them. So, if you ever get stuck with a bum charge, it may not always be so easy to get your money back. 


With that, here are seven quick tips for using your P2P mobile payment apps safely.


1. Add extra protection with your face, finger, or PIN. 


In addition to securing your account with a strong password, go into your settings and set up your app to use a PIN code, facial ID, or fin ..

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