Which is a common con of P2P payment apps?

Which is a common con of P2P payment apps?

• A. Security risks
• B. Excellent dispute resolution
• C. No processing fees
• D. Strong privacy protections

Answer: (A)

Security is a major concern with P2P payment apps. These apps move money directly from your linked bank account or card to another person, often with just a few taps on a smartphone. If your device is lost or stolen, if someone guesses or steals your login, or if you fall for phishing or fake payment requests, a scammer can access your account and authorize transfers. Since many of these transfers are fast and hard to reverse, recovering lost funds can be difficult. This is the typical downside you’ll hear about with P2P apps. The other options describe benefits that aren’t guaranteed across all services: dispute resolution isn’t always excellent, processing fees can apply in certain situations, and privacy protections aren’t universally strong.

Security is a major concern with P2P payment apps. These apps move money directly from your linked bank account or card to another person, often with just a few taps on a smartphone. If your device is lost or stolen, if someone guesses or steals your login, or if you fall for phishing or fake payment requests, a scammer can access your account and authorize transfers. Since many of these transfers are fast and hard to reverse, recovering lost funds can be difficult. This is the typical downside you’ll hear about with P2P apps.

The other options describe benefits that aren’t guaranteed across all services: dispute resolution isn’t always excellent, processing fees can apply in certain situations, and privacy protections aren’t universally strong.