When using such apps customers have to be accurate because money sent can not be recalled and if sent to the wrong person is money lost
Shannon Armbrister
The transferring of money use to be a two-hour process between getting dress, driving to the bank, waiting in line and friendly conversation with the teller before the transaction was complete. Now money can be transferred in seconds from an app on the phone like cash app or Zelle without leaving the comforts of home. These types of money transferring apps can also be used to pay for services, split the check at dinner, or pay for the kid’s fundraiser. The luxury of these apps reduces waste of time, less time spent at the bank, money in minutes giving people the opportunity to spend that time on other things. Some cash apps offer customers investment options and also trade in bitcoins when many customers are finding useful.
When using such apps customers have to be accurate because money sent can not be recalled and if sent to the wrong person is money lost. There have been instances where cash app customers have had their bank account compromised. It is important to understand that these conveniences come with risk because they are linked to your personal information. There are also a growing number of scammers using cash apps to trick customers into giving up their information and money. Self service has become a high demand in today’s society so the best that customer can do is be smart about the apps they use and take safety precautions when using any app.
Curry, David (2021, March) Cash App Revenue and Usage Statistics https://www.businessofapps.com/data/cash-app-statistics/ (Links to an external site.)
Kloppenborg, T. J., Anantatmula, V., & Wells, K. N. (2019). Contemporary project management (4th ed.). Cengage Learning.
Eckstein, Jacob (2021 March 12th) How Square’s Cash App Makes Money https://www.investopedia.com/articles/company-insights/090916/how-square-cash-works-and-makes-money-sq.asp
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