Reg E and mobile payments

Answered by:

Question:

Our customer received a call telling them their CashApp account was compromised, and they needed to verify the password. After they did this there were several authorized CashApp transactions. Can we tell the customer they have to resolve the issue with CashApp?

Answer:

No. The CFPB Reg E FAQs state that because you and CashApp both have contracts with Visa, you are still responsible for investigating claims when your customer stores their debit card information on a third-party platform.

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Learn more about Brian Crow’s, Visa & Reg E Error Resolution webinar.