Although the P2P payment methods are convenient, the apps’ general lack of user protection is
precisely what can make these services attractive to fraudsters. We remain fully committed and strive
to protect our event organizers, event registrants, and their related account information.
1. Fraud:
One of the biggest risks is fraud. Scammers may try to trick your event participants into sending
money through a P2P payment service, and once the money is sent, its virtually impossible to
recover.
2. Refund Difficulty:
If something goes wrong with a payment, it can be tricky to dispute and come to a fair conclusion to
determine what happened between the event and the registrant. Refunds are nonexistent (or very
hard to initiate). With no ability for Perfect Golf Event to be involved in the transaction, its difficult
to dispute charges after the fact. Human errors, like sending money to the wrong recipient, can
happen.
3. Security Concerns:
If a smartphone is compromised or stolen, a thief or scammer can easily gain access to the user’s
personal information and initiate transactions.
4. Not designed for Events or Fundraising:
These apps lack business payment options like invoicing and recordkeeping. Especially for tax purposes.
5. Transaction Delays:
Transactions can be delayed by the application or the receiving bank. If placed on hold by the
banking institution, the Event may not have access to funds. Banks can cancel, freeze or hold a
transaction that they think is fraudulent.
6. Event Participants or Players:
With an average event registration of $500, event participants and players want to use their credit
cards. They understand the protection that the card companies provide, and like the perks
associated with card usage like points and travel miles.