Peer-to-peer (P2P) payment apps like Zelle, Cash App, PayPal, Google Pay, and Venmo make it easy to send money in seconds. Whether you're splitting a restaurant bill, paying back a friend, or sending money to family, these apps are fast and convenient. And they’re gaining popularity: According to eMarketer, more than 74% of smartphone users are expected to be using P2P apps by 2028.¹

But they're also a favorite tool of scammers. Understanding when—and when not—to use a P2P payment app can help protect your money.

5 rules for using payment apps safely

1. Only send money to people you know and trust.
2. Verify the recipient before sending.
3. Never send money because someone pressures you.
4. Protect your account with strong passwords and multi-factor authentication.
5. Review your transactions regularly.

How do digital payment platforms and apps work?

P2P payment platforms allow users to send and receive money from their mobile devices through a linked bank account, debit card, or credit card. In some cases, the sender and recipient must have U.S. bank accounts (they do not have to be from the same financial institution) and be registered with the platform being used to send money. Using digital payment platforms is very similar to handing someone cash.

There are many digital payment platforms to choose from today. These different services may have varying speeds, fees, reimbursement policies, safety measures, and other features to consider when exploring your options.

How can I stay safe when sending money using a digital payment platform?

There’s no doubt P2P payment platforms are a convenient tool in our busy lives. But it’s important to understand how to use them wisely.

Here are five tips to help you safely send money digitally:

1. Send money only to people you trust. They’re called “peer-to-peer” payment platforms for a reason—these services are best used with people you know. It’s a good idea to limit your recipients to family members, friends, and other people you trust. Why is this so important? Typically, once you send money with a P2P payment platform, the transaction can't be cancelled. If you send money to a stranger in error, it may be difficult to get it back.

2. Be aware of online scams. An online scam is when you’re manipulated or tricked by a criminal into authorizing a payment under false pretenses (see common payment scams targeting older adults). Scammers often request payment through payment apps, wire transfers, gift cards, cryptocurrency, or prepaid debit cards because those methods are difficult to trace or reverse.

Some examples of online scams where users pay someone without knowing it's fraud are: 

• Business imposter scams: You receive a phone call, email, text message, or private message on social media. The call or message appears to be from a familiar business—like your bank, utility company, or a well-known retailer (e.g., Amazon). Yet the sender or caller is not from a reputable organization at all. Rather, they’re a professional scammer who’s out to steal your money or your personal information. This is just one of the many types of imposter scams where criminals pretend to be someone you trust in order to steal from you. Whether the scammer poses as a bank representative, government official, tech support worker, or romantic partner, their goal is usually to pressure you into sending money before you have time to verify the situation.
• AI-powered scams: “One of the things we've seen is that criminals are increasingly leveraging technology, such as AI (artificial intelligence) and digital, to perpetrate scams,” said Andrea Gilman, Chief Marketing Officer at Zelle, during a panel at NCOA's Age+Action Conference. “So they are turning from crimes they may have committed on the streets to digital methods of committing fraud.”
  
  With digital tools, scammers can create believable voices, images, and videos of real people (deepfake scams)—such as your family members, employer, or even a well-known politician or celebrity. For example, you receive a call from someone claiming they’re your grandchild. They say they’re in trouble with the police and need money to get out of jail, and they ask you to send money to them. Only it’s not really your grandchild, and they aren’t in jail. But you don’t realize you’ve been tricked until your money is long gone.
• Phishing scams: Phishing is a long-running online scam that uses emails, text messages, social media, fake websites, and other tactics to trick people into sending money. In 2025, phishing and spoofing were the most frequently reported cybercrimes, generating 191,561 complaints and more than $215 million in reported losses.²
  
  Many phishing scams are designed to trick you into sending money directly or entering payment information on fake websites. They do this by pressuring you to pay fake unpaid invoices, fraudulent package delivery fees, or bogus tech support charges. They may also send urgent requests claiming your account will be suspended unless you pay immediately.
• Pig-butchering scams: This is a newer type of online scam that often targets older adults. Scammers typically reach out through social media, dating apps, phone, or text message. They work on gaining your trust and friendship. Then, the scammer convinces you to invest in cryptocurrency. They send you to a credible-looking online platform and persuade you to make deposits into a bogus trading account. Before you know it, you've "invested" a significant sum of money in this scheme, hoping for a sizeable return. But then your so-called friend vanishes—along with your money.

3. Confirm your recipient’s contact information. You want to send a family member money you owe them. You type in their mobile phone number, username, or email address; enter the amount; and hit send. But your family member claims they never received the money. You check, and realize you entered their information incorrectly and accidentally sent money to a total stranger by mistake.

Keep in mind that it’s your responsibility to make sure you have the correct contact information or username for the person you want to send money to.

These tips can help you prevent erroneous payments:

• Double-check (or even triple-check!) for typos in the recipient’s email address before you hit send.
• If the payment platform you’re using offers this feature, scan a QR code to find the correct recipient. This eliminates guesswork.
• When in doubt, contact the recipient to verify their information. To be sure, you can also send a test payment of $1 to confirm that the money is going to the right place.

4. Protect your payment platform account(s). If you regularly use mobile payments, it’s essential to protect and monitor your account. A simple way to help ensure safe payments is to use a strong password (and don’t use the same password across multiple accounts/sites).

These additional tips from the American Bankers Association can also help you keep your account—and your money—secure:

• Use multi-factor authentication, which requires you to have at least two credentials to access your account (e.g., your password and a numerical code).
• Don't share your account credentials with anyone, especially someone you don't know. This includes your password and any one-time verification codes you receive via text or an authentication app.
• Set up alerts in your payment platform of choice so you'll be notified of transactions even when you're not logged in.
• Review your bank accounts and the recent activity in your payment platform regularly to stay on top of any unauthorized activity. If you bank offers this option, sign up for text or email alerts that notify you of any suspicious activity on your account.
• Use public Wi-Fi with caution. Free Wi-Fi at your local cafe may seem convenient, but the connection may not be secure. When you do us this service, avoid accessing any sites or apps containing your personal information (e.g. your online banking app).

5. Understand your various payment options. Today, there are often multiple ways to pay for products and services. It’s important to check the terms and conditions of your preferred payment method. If you choose to use a P2P payment platform, you should first carefully research the protections and rules for that specific platform. 

What should I do if I get scammed?

1. Contact your bank immediately.
2. Contact the payment app.
3. Report the scam to IC3.
4. Report identity theft if needed.
5. Change passwords.

The Bottom Line

Peer-to-peer (P2P) payment platforms are a fast and convenient way to send money to people you know and trust—whether you're splitting a dinner bill, reimbursing a family member, or paying a friend back. But they're not the best choice for every transaction. If you're paying someone you don't know, buying something from an unfamiliar seller, or responding to an unexpected request for money, consider using a payment method that offers stronger purchase protections, such as a credit card. Taking a few extra moments to verify who you're paying can help protect both your money and your peace of mind.

Sources

1. eMarketer. US Mobile P2P Payments Forecast 2024. May 28, 2024. Found on the internet at https://www.emarketer.com/content/us-mobile-p2p-payments-forecast-2024

2. Federal Bureau of Investigation (FBI) Internet Crime Complaint Center (IC3). Internet Crime Report 2025. Found on the internet at https://www.ic3.gov/AnnualReport/Reports/2025_IC3Report.pdf