The Consumer Financial Protection Bureau (CFPB) finalized a rule to supervise the largest payment apps. Here's why this rule is a good thing for users who rely on Venmo or Apple Pay almost every day.

Venmo is owned by PayPal, a major player in the online payment world, and follows strict security measures to keep your money safe. Here’s what they do to protect users: 1.

Apps like Apple Pay, Venmo and PayPal are some examples of digital wallets. Because of encryption and other security measures digital wallets use, these payment methods are generally secure.

Peer-to-peer (P2P) payment platforms like Venmo, Cash App, and Zelle make it easy to send cash to other users across the country. But this enticing convenience has also made money transfer ...

Funds stored in payment apps often lack deposit insurance, the CFPB has found. FDIC-insured banks protect depositors against the loss of their insured deposits up to at least $250,000 if a bank ...

The CFPB found that funds stored in these apps often lack deposit insurance, noting insured banks protect depositors against the loss of their deposits up to at least $250,000 if a bank fails ...

Peer-to-peer payment apps like Venmo offer an easy way to send money to friends and family as well as businesses selling goods and services—but that ease makes them a target for scams involving ...

Yet, companies that provide digital wallet payment apps aren’t always subject to the same regulatory oversight as other financial institutions, says Chuck Bell, CR’s policy advocate.

Money transfer apps allow users to send and receive funds with just a few taps. Typically, all you need is the recipient’s email address or phone number to send a payment.

For tax year 2024, the threshold to receive Form 1099-K for payments through payment platforms is $5,000. The IRS considers money paid through the platforms for goods and services as income, even ...

Payment apps including Venmo, PayPal, and Cash App report business transactions to the IRS. Users with $5,000 or more in payment-app income for 2024 will get a new tax form, 1099-K.