PYMNTS

OCTOBER 16, 2020

Peer-to-peer (P2P) payment apps like CashApp , PayPal , Venmo and Zelle are especially popular targets for financial crime, with fraud attacks against these apps increasing by 733 percent since 2016. A financial fraud attack against FIs or businesses occurred every two minutes on average in 2019, resulting in 59,627 attacks in total.

Zelle 89

Zelle P2P Scams Financial Crimes 89

PYMNTS

NOVEMBER 5, 2020

Stripping out the impact of bitcoin, Square said that CashApp revenues were up 174 percent year on year to $435 million. Drilling into separate offerings, the company said that Cash App revenues of $2 billion were up 574 percent year over year.

Transactions 63

Transactions CashApp Tax Refunds Volume 63

Nanonets

APRIL 8, 2024

Other apps: A range of mobile payment processing apps give on-the-go flexibility and ease of use, including Venmo, PayPal , and CashApp. Payment processors: If you need more robust transaction management tools, payment processors like Square and Stripe provide all-in-one payment solutions.

ACH 52

ACH Wire Transfer ACH Network Tax Refunds 52

PYMNTS

OCTOBER 19, 2020

It is no wonder that payment apps like CashApp , Venmo and Zelle are used by more than 70 percent of Americans. Gone are the days of diners handing waiters a stack of credit cards to split a bill, and instead seamless money transfers occur in a matter of seconds.

Zelle 68

Zelle Scams AI CashApp 68

FICO

NOVEMBER 30, 2022

By convincing individuals to send money through apps like Venmo, CashApp, Zelle and others, or adding a payee for traditional ACH transactions, fraudsters are perpetuating what is known in the financial industry as Authorized Push Payment (APP) fraud (in the UK) or authorized user fraud (in the US).

Scams 52

Scams Push-to-Card Fraud Prevention CashApp 52

FICO

APRIL 8, 2022

P2P like Zelle, PayPal, Venmo, CashApp). For example, to assess a person to person (P2P) money transfer transaction for potential APP fraud, many pieces of customer data are relevant: Device (known or unknown computer, tablet or smartphone). Transaction type (e.g. Account type (debit, credit, savings). Specific account. Time of day.

Scams 52

Scams TPS Non-Bank Payee 52

FICO

DECEMBER 5, 2022

Third-party P2P apps, like CashApp, use a few icons very effectively to streamline their experiences. Given our survey indicates strong customer preferences for ease of use, customer education must take a front seat in the customer experience to provide familiarity to customers in any channel.

Online and Mobile Banking 52

Online and Mobile Banking Authentication Identity Theft Security 52

Nanonets

APRIL 3, 2024

Payment apps like CashApp or Venmo function much like digital wallets but also tend to include features similar to banking platforms. When you make an in-person or digital purchase, the digital wallet generates a unique, one-time authentication and communicates that alongside transaction data to the recipient or payee.

Credit Cards 52

Credit Cards Venmo Payment APIs and Integration Non-Bank 52

Payment Savvy

NOVEMBER 9, 2022

Many different platforms facilitate P2P payments; Paypal and CashApp are two popular examples. This is where peer-to-peer (P2P) payments come in. P2P payments are electronic payments made between two individuals without needing a financial institution. Benefits of Electronic Payments for Your Business.

Online and Mobile Banking 98

Online and Mobile Banking Wire Transfer Direct Deposit Funds Transfer 98

FICO

NOVEMBER 7, 2022

On one side, there are regulators concerned about the perceived growth of scam losses through popular P2P payments apps like Zelle, Venmo and CashApp. The big question is who should be liable for losses when it comes to P2P scams, and we’re seeing two schools of thought.

Scams 52

Scams Authorization P2P Consumer Financial Protection Bureau (CFPB) 52