Payments through the wallet are received
Credit card payments are received by the merchant
after 4 days on average.
Chargebacks on e-wallets are less likely as wallet ownership
is subject to stringent KYC, blacklist, country of registration
checks. Also transaction details are logged between the
merchant and the customerwhich makes it simpler to prove the
Credit card payments are subject to potential chargebacks
due to fraud and card misuse.
E-wallet transactions are logged as they occur and can be
used to create reliable cashflow predictions.
Cashflow projections can be difficult with credit cards due to
chargebacks which can be instigated up to 2 years after
the initial transaction.
The same data can be analysed by merchants using the e-wallet
without the need to worry about chargebacks.
Credit card purchases provide useful data which merchants can
analyse to discover periods of high activity which can help with
stocking and staffing requirements. Although the figures can
be skewed by chargebacks.
Credit card purchases between £100 and £30,000 are covered
by Section 75 of the consumer credit act