Chase Will Soon Block Zelle Payments To Sellers on Social Media

An anonymous reader shares a report: JPMorgan Chase Bank (Chase) will soon start blocking Zelle payments to social media contacts to combat a significant rise in online scams utilizing the service for fraud.

Zelle is a highly popular digital payments network that allows users to transfer money quickly and securely between bank accounts. It is also integrated into the mobile apps of many banks in the United States, allowing for almost instant transfers without requiring cash or checks but lacking one crucial feature: purchase protection.

Read more of this story at Slashdot.