Cash App’s Post

Such helpful tips and reminders for those you love shopping at the holidays (and all year long!) - How you can be Smarter than Scams:

Stop! Protect Your Cash from Scammers on Payment Apps – Must-Know Tips Inside! Navigating Digital Payments Safely in 2024 In the age of digital transactions, staying secure is more crucial than ever. This video provides an insightful overview of common payment apps like PayPal, Venmo, Zelle, and Cash App, and highlights key precautions to protect yourself from fraud. Learn how to recognize potential scams, recover lost funds, and safely manage your digital financial transactions. 👉 Click the LINK in my bio for your free guide to zero merchant fees for your business… LIKE SAVE & FOLLOW 🔥 Jeff Glines #JeffGlines #MerchaMax #ZeroDiner #PaymentProcessing #BusinessOwner #CreditCardProcessing #MerchantServices #DigitalPayments #FraudPrevention #PaymentSecurity #PayBright PayBright Credit: Today Show

Digital money transfer fraud through apps like Venmo, Cash App and PayPal is on the rise. Here’s how you can protect yourself: ◾ Research the seller – Before sending money, check the seller’s reviews or feedback if available. Avoid transactions with sellers who have negative reviews or seem suspicious. ◾ Avoid the friends and family option – On some platforms, such as PayPal, sending money using the “Friends and Family” option waives your right to buyer protection. Always use the “Goods and Services” option when purchasing items. ◾ Document everything – Keep records of your communication with the seller, including screenshots, descriptions, prices and any other relevant details. ◾ Confirm delivery methods – Ensure that you have a clear agreement on how your purchase will be delivered, especially if it’s a physical item. If possible, opt for trackable shipping methods and require a signature upon delivery. https://bit.ly/4chSs4Y #AvoidFraud #ScamAlert #CreditHuman

Payment apps are soaring in popularity. Here’s what you need to know. State laws regulating how payment apps protect stored funds vary, creating a confusing patchwork that’s compounded by customer service challenges.

🚨 Watch Out for Sale Scams! 🚨 Scammers are using mobile payment apps to deceive people into paying for items that never arrive. Whether it's tickets, pets, or other goods, they take your money without delivering. Always be skeptical of too-good-to-be-true deals, especially from unknown sellers. If you suspect you’ve been tricked, contact your bank or payment service immediately to report the issue. Don’t forget, you can also file a complaint with the FBI’s Internet Crime Complaint Center at www.ic3.gov. Protect yourself by staying informed and cautious. #FraudFriday #OnlineShoppingSafety #ConsumerProtection

Many people don't understand there are frequent "snafus" between the payment app and the merchant where orders are not received by the merchant. When the customer can't reach the payment provider they reach out to the merchant. As a customer service rep for one such merchant, I take calls daily from customers who have used PayPal to pay for an order. The customer has a pending authorization, but we don't have an order. The customer doesn't understand why I can't help. These payment platforms also can take anywhere from 2 - 4 weeks to drop a pending authorization where a regular bank takes UP To 3 - 5 business days. Not only does this cause more frustration/anger for the customer, it potentially causes a loss of a customer for the merchant. It also causes mental drain for empathetic customer service reps who are invested in being there to help their customer. I used to use PayPal to pay for orders on websites that I might only shop once or twice, thinking this way I don't have my regular bank info out there. Luckily, I've never run into an issue (probably because I've only used it 1/2 dozen times over the course of years). After being on the other side of the experience, I won't be using it again.

With holiday shopping in full swing, scammers are on the lookout for their next target. But you can outsmart them! We’re partnering with Cash App, PayPal, and Venmo to help keep consumers #SmarterThanScams. Our President and CEO, Penny Lee, joined ARC #LasVegas to share tips on how to keep your money safe this season, like making sure to pause before you pay and only send money to people you know and trust. Make sure to change your passwords often, and don’t use the same password twice. Learn more ➡️ https://lnkd.in/dfDZdWye #PauseBeforeYouPay #PoweredByFintech NBC

Payment Apps Soaring In Popularity - The Washington Post Payment apps are almost a way of life these days - whether paying for a purchase, tutoring, extra-curricular activities, tipping for haircut, etc. - for convenience and speed. Gen Z is using these instead of bank accounts. "Almost three-quarters of U.S. consumers used payment accounts such as PayPal, Venmo and Cash App in 2023, according to the Atlanta Federal Reserve — up from 68 percent in 2022. In a 2023 report, the Consumer Financial Protection Bureau estimated that payment volume on these apps quadrupled between 2018 and 2022, with usage especially concentrated among younger Americans." says The Washington Post's Hannah Ziegler. Read Hannah's article on what you should know. #PaymentApps #NotBankAccounts #Paypal #Venmo Correction: Tagging the right Hannah Ziegler from The Washington Post!

Fast payments can help consumers improve their cash flow, but the speed and irrevocability of these payments also make them a target for fraudsters seeking to commit authorized push payment (APP) scams. My latest Payments System Research Briefing discusses measures that fast payment system operators and participating financial institutions can adopt to combat APP scams in fast payment systems. https://lnkd.in/gNXnjzX6

CFPB Widens Reach of Supervision to More Widespread Digital Payments, including Apple Pay, Cash App, PayPal, and Zelle Read More - https://shorturl.at/Zj6hf The CFPB s new rule subjects major digital payment apps like Apple Pay, Cash App, PayPal, and Zelle to stricter oversight, enhancing consumer protection and fraud prevention #CFPB #DigitalPayments #Fintech #ConsumerProtection #ApplePay #CashApp #PayPal #Zelle #FinancialRegulations #TechOversight #Venmo #FintechNews #DigitalWallets #BankingIndustry