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.