Scams are common on peer-to-peer payment apps, but you can keep your money safe by avoiding questionable payment requests that may be fraudulent, only sending money to people you know and upgrading your privacy settings. While payment apps are convenient, they also carry risks if you use them without first vetting who exactly you are sending money to. Scam artists are growing increasingly sophisticated in their attempts to trick consumers into sending money, often impersonating financial institutions and creating a false sense of urgency. Consumers can safely use payment apps as long as they take precautions.
