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Peer-to-peer payments

The IRS delays a tax-reporting rule for peer-to-peer apps. Freelancers are relieved.

by Savannah Peters
Jan 17, 2023
Peer-to-peer apps have become a lifeline for small businesses. But many formerly under-the-table cash transactions now leave a digital trail. 
Small businesses that use peer-to-peer payment services like Cash App or Venmo and take in more than $600 will receive a 1099 form starting next year.
Anna Webber/Getty Images for Afterpay
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What are your options after sending money by accident? It depends.

by Sabri Ben-Achour , Alex Schroeder and Jarrett Dang
Sep 26, 2022
A recent court case involving Citi brought the issue of accidental payments into the spotlight.
While there are legal protections for consumers around accidental payments and fraud, banks have a spotty record of following them, says Carla Sanchez-Adams of the National Consumer Law Center.
Courtesy Steven Byeon
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Peer-to-peer payment use is growing. So are scams.

by Stephanie Hughes
Jul 20, 2022
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.
Payment apps haven’t disclosed how much consumers have lost from scams, but Lisa Ellis with MoffettNathanson estimates it’s around $10 billion.
Justin Sullivan/Getty Images
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New small businesses have helped P2P payment apps boom during the pandemic

by Justin Ho
Apr 2, 2021
Business formation doubled between April and July last year, thanks in part to small businesses relying on P2P apps to get revenue.
Apps like Venmo, Zelle and PayPal are increasingly becoming businesses' preferred method of receiving payment.
Justin Sullivan/Getty Images
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COVID-19

P2P payment apps are booming, thanks to the pandemic

by Justin Ho
Mar 15, 2021
It can feel safer to send money with a mobile peer-to-peer app. Usage is expected to keep growing after the economy recovers.
Consumers are using peer-to-peer apps for investing and other purposes beyond receiving payments.
PayPal
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Busking in the age of Venmo

by Leila Goldstein
May 13, 2019
Street performers try to attract tips by having payment app accounts. But cash is still king.
Leila Goldstein/Marketplace
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Banks eager to help you beam money to friends faster

by Annie Baxter
Aug 2, 2016
Several big banks are letting customers beam payments to friends in real time.
Banks are trying to catch up to Millennials with this whole instant transfer of money stuff. 
Spencer Platt/Getty Images
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Apple wants to own your wallet

by Sabri Ben-Achour
Nov 12, 2015
The company is set to join an army of companies fighting over the peer-to-peer payment business.
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