Before you tap the “Send Money” button, make sure you’re sending the correct amount. You might also want to let them know in advance that you’re sending funds their way. Always double- or triple-check the contact information of the person you are sending the money to. When you send money via P2P apps, you must be diligent about sending the money to the right person. With so many options out there, it’s important to consider the potential risks of using these payment apps. In today’s world, there’s really no excuse not to split the bill the next time you’re out for lunch with friends. You can even make peer-to-peer payments via Facebook Messenger. In the two-plus decades since PayPal made its debut, plenty of other P2P payment apps have cropped up: Venmo - which is a subsidiary of PayPal, Cash App, Apple Pay and Google Pay are all players in the P2P payment game. That designation would go to PayPal, which has been around since December 1998. Tips for Safely Using Peer-to-Peer Payment AppsĬhase QuickPay with Zelle isn’t the only peer-to-peer payment app - and it’s certainly not the first. Recipients who are using the Zelle app will get the money soon after it’s sent, according to Chase.įor assistance with Chase QuickPay with Zelle, call 87 in the U.S.For recipients who bank at a financial institution that is not a Zelle member, funds should be available within one to two business days, depending on the bank’s processing times. Otherwise, the funds are available within one to two business days. For recipients who bank at a different Zelle member bank that supports real-time payments, the transaction typically takes only minutes.For recipients with a Chase account, the money usually arrives within minutes, but no later than the next business day.When you send a payment to someone using Chase QuickPay with Zelle, it’s helpful to know when the payment might arrive: If you’re requesting money, the party on the other end of the transaction will get a notification. You’ll receive a confirmation that the transaction was successful, and the recipient will receive instructions on how to complete the process and claim the money.
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