P2P Payments | Baamboozle - Baamboozle | The Most Fun Classroom Games!

English 13 Public

NGPF

Study Slideshow

What payment instrument is used most by consumers?

debit

credit

cash

cash app

15

What percentage of middle school and high school students said they use payment apps in 2022?

100%

75%

40%

25%

15

In 2022, the CFPB issued guidance to banks with rules about scam payments on digital apps.

False

True

15

What makes it tough for leaders to know how much money was stolen in fraud transactions?

Users are not reporting the fraud when it happens

The banks are breaking the law by not publishing the data

Lack of disclosure requirements

The banks are breaking the law by not tracking anything

15

An expert estimated that as of 2022 about _______ had been stolen from digital payment fraud.

$5 billion

$1 billion

$32 billion

$10 billion

15

Which platform has a Digital Financial Education Center for resources about avoiding scams?

Paypal

Cash App

Zelle

Venmo

15

When sending a payment using a P2P payment account, which information is typically required for the transaction?

Passport Number

Email address or phone number

Home Address

SSN

15

What precaution can individuals take to avoid falling victim to scams on P2P payment apps?

Ignore all text messages from unknown numbers

Verify the authenticity of communication by calling the bank

Share their account details with friends

Avoid using P2P apps altogether

15

What are the pros of using P2P payments instead of traditional methods like cash or checks?

awv

15

What are the cons of using P2P payments instead of traditional methods like cash or checks?

awv

15

Why is it important to choose a P2P service that your friends and family already use?

awv

15

How has the rise of P2P payment systems impacted the way society handles money?

awv

15

What precautions do you think you could take to avoid fraud when using peer-to-peer payment apps?

awv

15