Chase will soon block Zelle payments to sellers on social media
Zelle payments to social media contacts may shortly be blocked by JPMorgan Chase Bank (Chase) in an effort to counteract a sharp increase in online fraud schemes that use the service.
A well-known digital payments network, Zelle enables customers to safely and swiftly move funds between bank accounts. Though it lacks one essential feature—purchase protection—it is also connected into the mobile apps of most US banks, enabling nearly instantaneous transfers without the need for cash or checks.
Chase clarified in a recent change to its user policy that using the payments service to purchase goods from merchants or retailers—including on or through social media read more about Chase will soon block Zelle payments to sellers on social media.
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