Is the Popular Mobile Payment Service Cash App Safe?

By Gloria Todisco, January 14, 2019

Cash App is a mobile payment service that allows users to transfer money to one another using a mobile phone app.

Square Cash is the most popular cash transfer app, but there are several others such as Google Wallet, Venmo, Zelle, and Paypal. These apps let you send cash directly to other people via email or within the app using a debit or credit card.

Most people are “squaring up” for one thing or another. Going out to eat, movies, even paying a friend back money owed. New surveys show that 60% of people use cash apps and if you’re a millennial or younger the number rises to 80%. It’s like the “Western Union” of the millennials. All these apps work on IOS and Android as well as via web browsers.

Safety Tips While Using Cash App

It is not recommended to use cash apps with strangers.
Use a credit card not your bank account gives you some recourse.
Set a cash PIN and enable Touch ID/Face ID.
Use different passwords for all accounts.
Encrypted data and options like CVV entry add a layer of protection.
Always enable two-factor authentication when available.
Make sure your phone has a passcode lock.
Set an account security password with your mobile network provider.
Do not purchase services or goods with cash app as it might be a scam.
Beware of phishing; do not open or click to unsolicited emails with links or attachments nor matter how legitimate they look.
Scams and frauds are an unfortunate hazard in this digital age.
Never store cardholder data on any systems online.
Always expect and look for notification after a transaction and verify its validity.

As Cash App has become more popular and hackers become more sophisticated, the risk of hackers when using cash apps will only increase. Pay attention and be alert. Make sure you regularly check your accounts and personal security information.

If you suspect fraudulent activity when using Cash App, please contact Social Catfish to assist you.