Apple Pay Cash - Just how safe is it?

[WolfSnap]

I've been trying to find information on Apple Pay Cash's sending/receiving policies, and so far haven't had that much success..

I read the terms and conditions, and in there, it says that payments are non-refundable once sent. Great! BUT, if I send money from a credit card and/or a debit card, I can always get that charge reversed...

Now, let's say I'm selling an iPhone on Craigslist, and we both agree to pay via. Apple Pay Cash.

But, unknown to me was that the person who I'm selling the phone to is a huge scammer and as soon as I give him the iPhone (and receive the Apple Pay Cash payment), he's on the phone with his credit card company claiming that the charge wasn't authorized.

Let's also assume that the credit card company sides with the scammer..

What happens to the money I received? Does it get returned to the issuing bank? Am I on the hook for the money? What if I've already transferred the money to my bank? Is it going to get reversed from there too?

Or, is this the risk Apple/Green Dot is taking, and THEY will absorb the loss and go after the scammer for the loss, meanwhile I'm safe and secure with the Apple Pay Cash payment I received?

Sure, payments from friends are fine -- but, for this to really be useful, I need to know what happens in the event that someone claims it was an unauthorized payment...

 

[macfacts]

Cash is king.

 

[kylew1212]

Cash is king.

Not necessarily true. There has been scammers use counterfeit cash to buy items on craigslist.

Watching this thread.

I'm also very curious about the original question. This could be an extremely easy and safe way for selling items via craigslist.

 

[hansenc]

Something tells me you should treat Apple Cash like Venmo and only use it with people you trust.

 

[Glee217]

I've been trying to find information on Apple Pay Cash's sending/receiving policies, and so far haven't had that much success..

I read the terms and conditions, and in there, it says that payments are non-refundable once sent. Great! BUT, if I send money from a credit card and/or a debit card, I can always get that charge reversed...

Now, let's say I'm selling an iPhone on Craigslist, and we both agree to pay via. Apple Pay Cash.

But, unknown to me was that the person who I'm selling the phone to is a huge scammer and as soon as I give him the iPhone (and receive the Apple Pay Cash payment), he's on the phone with his credit card company claiming that the charge wasn't authorized.

Let's also assume that the credit card company sides with the scammer..

What happens to the money I received? Does it get returned to the issuing bank? Am I on the hook for the money? What if I've already transferred the money to my bank? Is it going to get reversed from there too?

Or, is this the risk Apple/Green Dot is taking, and THEY will absorb the loss and go after the scammer for the loss, meanwhile I'm safe and secure with the Apple Pay Cash payment I received?

Sure, payments from friends are fine -- but, for this to really be useful, I need to know what happens in the event that someone claims it was an unauthorized payment...

I am on the same boat as a seller on craigslist as well. So did youactually find your answer?