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Peer-to-peer apps have become a lifeline for small businesses. But many formerly under-the-table cash transactions now leave a digital trail.
A recent court case involving Citi brought the issue of accidental payments into the spotlight.
The Consumer Financial Protection Bureau will reportedly push banks to reimburse customers who lose their money through scams on apps like Paypal, Venmo and Zelle.
Business formation doubled between April and July last year, thanks in part to small businesses relying on P2P apps to get revenue.
It can feel safer to send money with a mobile peer-to-peer app. Usage is expected to keep growing after the economy recovers.
Street performers try to attract tips by having payment app accounts. But cash is still king.
Several big banks are letting customers beam payments to friends in real time.