By Markus David
Director of Professional Services
MyChargeBack
Google Pay is one of the most trusted and widely used digital payment services. This mobile wallet is linked to customers’ credit cards, disguises their personal data and is highly secure.
However, that doesn’t mean that there aren’t significant frauds targeting Google Pay customers. If you’ve lost money through this mobile wallet, it’s important to file a claim and provide in-depth information for a successful Google Pay chargeback.
GooglePay is popular, with 25 million people in the U.S. using this service to make and receive payments. It is estimated that there are over 50,000 websites that accept Google Pay as a payment method.
Why use Google Pay instead of a credit card? One of the main advantages of Google Pay is security. If you use your card directly online, hackers can intercept your information, unlock codes and make transactions without your permission.
However, Google Pay provides several layers of security. This digital wallet doesn’t share your actual credit card number with merchants, so there is no way a third party can apprehend it. GooglePay can be used online or in physical stores through NFC-enabled terminals.
When a customer uses Google Pay, the wallet creates a virtual account number so there is no need to give the recipient any customer information.
The heightened security of Google Pay means much less fraud related to hacking. To use NFC terminals, users have to unlock their phones. This makes it virtually impossible to make transactions from a stolen phone.
Google Pay encodes user information to keep it from being used should the service get hacked. Also, customers need to open their phone and log into their account before they can send money.
Even if cyber criminals could hack their way to getting all of these codes, it’s unlikely they would make the effort to get so much data on one person. This is good news for Google Pay customers when it comes to preventing hacking.
So is Google Pay hack-proof? It certainly has a high level of security. However, hacking isn’t the only type of fraud. People who are victims of phishing, fake brokers and merchant frauds lose money through authorized transactions.
In fact, many cyber criminals today are working less hard to hack unwitting customers but instead are developing social engineering tactics and fake personas to encourage people to send them money willingly. They regret it later when they realize they have given money to a scam, and it can be a challenge to get their money back.
If you have deposited money to a broker and find that they won’t give you a withdrawal, you are likely dealing with a fraud. However, since the transaction was authorized, it can be a greater challenge to try to get a Google Pay chargeback than a credit card chargeback of unauthorized charges made when your card or data were stolen.
The process for getting a GooglePay chargeback is similar to a credit card chargeback or a Paypal chargeback. The customer files a claim with Google Pay and describes the situation and provides information.
This part is key because the more documentation you can provide and a more compelling case you can make that the other party is fraudulent, the more likely your Google Pay chargeback will be successful.
Google Pay will contact the other party with the complaint and ask them to present their side. Google Pay will decide whether to refund the money to the customer or whether the merchant is correct and if they can keep the money.
Rates of Google Pay chargebacks are lower than credit card chargebacks. One of the chief reasons for this is Google Pay’s superior security measures.
Since there are fewer unauthorized charges because of anti-hacking measures, most of customer claims are to get money back from a merchant or a broker if they are dissatisfied. It can be harder to prove that the other party fraud if the customer willingly handed over their money.
Keeping this in mind, the most important thing to keep in mind when trying to get a Google Pay chargeback is to include as much relevant documentation you can when making your claim.
Get professionals on your side to bolster your claim. MyChargeBack experts will help you create a compelling claim that will prove that the other party was fraudulent. We will do a full investigation and give you the data you need for a successful Google Pay chargeback.
If you have lost money to financial fraud, talk to the MyChargeBack team. Our crypto investigations will provide evidence to bolster your claim and get you started with fund recovery.
MyChargeBack has developed working relationships with law enforcement agencies worldwide, has extensive knowledge and experience with crypto tracking, and can improve your prospects of getting your funds back
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MyChargeBack regards phishing and spoofing attempts against our clients very seriously. We advise you to verify that the email you receive from MyChargeBack is indeed sent from mychargeback.com. If you are sent any type of communication carrying our name that looks suspicious, please forward a copy to us at [email protected]
