Peer-to-peer (P2P) payment apps have made sending money as easy as sending a text. They feel safe and are backed by major tech companies and banks. We use them to pay the babysitter, split a dinner bill, or buy something online. We trust them. But that trust is dangerously misplaced. The speed and finality that make these apps convenient are the very features that scammers exploit. When a transaction goes wrong, most of these supposedly secure payment apps offer little fraud protection. Their user agreements often leave you with no legal recourse.
Here are eight popular payment services where your money is at risk if you get scammed.
