Tips for using peer-to-peer payment systems and apps

Online peer-to-peer, or P2P, payment systems let you send money to people quickly. I’ve used them to collect money from the parents on my daughter’s soccer team and to send money to my brothers when we’ve bought a gift for a friend. Personally, I almost always know where my phone is, but I can’t say the same for my checkbook.

The use of these services is a growing trend—I just read an article that estimates there will be more than $700 billion in peer-to-peer payments in the U.S. in 2018. There are several mobile peer-to-peer apps out there already and banks are also getting into the game. If you use a peer-to-peer payment system, here are some tips to keep in mind.

Source: FTC Scam Alert Feed
Tips for using peer-to-peer payment systems and apps