Payment apps are soaring in popularity. After a fraudulent $99 charge hit her PayPal account last month, Robin DesCamp encountered one frustrating bump after another as she navigated the world of digital payment app policies. Now she is urging her friends who use digital payment apps to be more diligent — or avoid them altogether. State laws regulating how payment apps protect stored funds vary, creating a confusing patchwork that’s compounded by customer service challenges. And millions of Americans operate in the dark about how payment apps use or invest those funds.

Source: Washington Post October 07, 2024 14:36 UTC