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Over $490 billion were sent by users in 1.8 billion transactions in 2021. Almost 3,000 financial institutions joined the Zelle network during the year, which speaks of its popularity. This popularity has made this payment app a prime target for con artists.
In the United Kingdom, Wise is authorized by the Financial Conduct Authority (FCA), and various other financial authorities worldwide regulate it. Wise uses bank-level encryption to safeguard customer data – however, this method is still not scam-proof!
As an alternative to carrying around a traditional wallet, Apple Pay makes it much easier to send and receive payments straight from your mobile device. Since its introduction in 2014, Apple Pay has been used by 507 million customers all across the globe, many of whom prefer using the digital wallet to carrying cash.
Scammers concentrate their efforts on trying to defraud people who use the Cash App. Cash App is used by tens of millions of people on a monthly basis. One of the reasons for this is that it allows users to send and receive money in an instant, which is one of the app’s most popular features.
