NEW YORK—A majority of peer-to-peer payment app users have reported dealing with scammers, according to new research.
A study from Security.org. found that in 2024, 83% of Americans reported being scammed or targeted by fraudsters on the apps, which include Venmo, PayPal and Zelle. That was a significant jump from the 68% who said the same in 2023 and the 48% in 2022, Newsweek stated in its analysis.
Across the United States, roughly 79% of residents use peer-to-peer apps at least once a week, Newsweek noted.
"We continuously review and update our operating rules and technology practices to improve the consumer experience and address the dynamic nature of fraud and scams," a spokesperson for Early Warning Services, the network operator of Zelle, previously told Newsweek.