A research conducted by Ravelin has revealed that the majority of merchants are struggling to challenge Google Pay and Apple Pay chargebacks successfully, according to thepaypers.com.
Only 5% of merchants say they’ve had the most success challenging chargebacks from Google Pay and Apple Pay, compared with 48% who say they have the most success challenging credit cards – despite Google saying that its chargebacks are dealt with in the same way as credit cards. Placing these figures into context, merchants challenge on average 37% of chargebacks and are successful in 56% of these challenges.
The figures are particularly worrying as nearly a quarter of merchants say that Google and Apple Pay are a top payment method for fraudsters using stolen credit card details.
These are the findings from Ravelin’s Online Merchant Perspectives, Fraud & Payments Survey 2020 report, which draws on the opinions and experiences of 1,000 fraud and payments professionals around the world, providing a valuable in-depth understanding into merchant fraud teams, their environment, top business threats, fraud activity trends and forecasts.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
