PYMNTS

OCTOBER 16, 2020

COVID-era fraudsters use scams that range from impersonating tax officials to selling fake PPE on P2P payment apps. 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.

Zelle 89

Zelle P2P Scams Financial Crimes 89

Fi911

APRIL 23, 2024

Visa Plus, or Visa+, is a money transfer service designed to act as a bridge between different P2P payment platforms. This service is Visa’s answer to break down barriers in peer-to-peer (P2P) transactions, enabling seamless money transfers between different payment providers.

Venmo 52

Venmo CashApp P2P Interoperability 52

FICO

NOVEMBER 7, 2022

Senator Elizabeth Warren, (D-MA) pointedly asked him about the number of fraudulent transactions Chase was seeing on the P2P payment platform Zelle. Scams and P2P Payments Are Front and Center. 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 Zelle 52

PYMNTS

OCTOBER 19, 2020

Peer-to-peer (P2P) payment apps have gained ubiquity over the past decade, supplanting or replacing cash transactions, personal checks or wire transfers for payments between individuals or sometimes even small businesses. It is no wonder that payment apps like CashApp , Venmo and Zelle are used by more than 70 percent of Americans.

Zelle 68

Zelle Scams AI CashApp 68

FICO

APRIL 8, 2022

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). P2P like Zelle, PayPal, Venmo, CashApp). Transaction type (e.g. to help inform future fraud decisions.

Scams 52

Scams TPS Non-Bank Zelle 52

Payment Savvy

NOVEMBER 9, 2022

This is where peer-to-peer (P2P) payments come in. P2P payments are electronic payments made between two individuals without needing a financial institution. Many different platforms facilitate P2P payments; Paypal and CashApp are two popular examples. Or what if you want to make a payment without using a bank at all?

Online and Mobile Banking 98

Online and Mobile Banking Wire Transfer Direct Deposit ACH 98

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). Banks can go on the offensive too.

Scams 52

Scams Push-to-Card Fraud Prevention CashApp 52