Fewer protections come with digital payments

NEW YORK – Experts warn that digital payment services like Apple Cash and Venmo don’t protect consumers the same way credit cards do. Yet consumers are typically unaware of that.

Regulations haven’t caught up, and companies are still figuring out how to deal with fraud. As a rule of thumb, the newer the service, the more likely con artists will target it. Apple encourages people to transfer money only to people they know.