Payment apps under fire
(ABC 6 News) – A Manhattan District Attorney calls for payment apps to do more to protect their customers cash.
Venmo, Zella and CashApp face fire following an uptick in illegal activities through their apps.
Several people have reported being robbed at knifepoint, losing thousands of dollars through Venmo and apps like it in the past year.
A Chicago man reported being robbed through his own bank’s app.
“I just remember in the moment, like I was just freaking out,” said Zachary Skinner. “Just was like, ‘all right, just gonna do whatever whatever that this guy really wants from me.’ I just wanted to get out of there mostly like unscathed.”
Officials say companies leave consumers vulnerable to both fraud and theft by force, and say added security measures within the apps are necessary.
Peer-to-peer payment services now handle an estimated $1 trillion in payments.