You just had dinner with a co-worker, and you want to pay her back then and there. So, you grab your smartphone to settle the debt via Venmo or Zelle or Square Cash. She’s not a contact, but no big deal, you think. These apps are made for moving money easily.

It won’t be until tomorrow when you will realize, “Oops.” You accidentally mistyped the email address in the payments app. Now, your money has gone to a stranger.

With peer-to-peer payment services making it easier than ever to settle debts, with it come risks like typos triggering a payment to the wrong person. The stakes are high because these kinds of payments are often irrevocable.

“Once you push the send button, they are gone,” says Zilvinas Bareisis, a senior payments analyst at Celent, a research and advisory firm.

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