Martin Lewis warns users over 'pay by bank app' risks

Martin Lewis, founder of Money Saving Expert, has issued a warning about the 'pay by bank' option increasingly available at online checkouts, such as those for Just Eat and Ryanair. While this payment method is quicker and easier, Lewis cautioned that it offers little protection compared to traditional card payments, specifically lacking the rights provided under chargeback and Section 75 of the Consumer Credit Act. He noted that transactions using this method are treated as bank transfers, which do not afford the same refund rights if issues arise. Although he stated it's generally safe for small purchases, he urged caution for larger transactions. Lewis also mentioned he would provide further insights on the topic through Money Saving Expert soon. The warning reflects a growing concern about the security of newer payment methods in online shopping.