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June 23, 2021Blog Posts

Complaints against mobile payment apps like Zelle, Venmo surge 300% as consumers fall victim to more money scams

CBS News

Complaints against some digital payment services and apps like Venmo, Cash App or Zelle are skyrocketing, according to a troubling new report.

Nonprofit U.S. Public Interest Research Group [PIRG] says top issues include scams, trouble using accounts and poor customer service. The group analyzed more than 9,200 complaints filed with the Consumer Financial Protection Bureau from 2017 to April of 2021. 

The report found more than 2,700 complaints were made from January to April of this year — compared to just over 600 in the same period last year.

Source

Buy Now, Pay Later: Boom or Bust?
When surveyed, 1 in 5 consumers said they thought their Buy Now, Pay Later service would take advantage of them.

Learn more by purchasing the report, or viewing the free infographic.

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