Wicked Reports examined consumer protection laws and other security measures to find how safe popular
e-commerce payment methods are and how the risks compare.
If you report your debit card as lost or stolen within two days, the consumer liability is limited to $50. This liability grows to $500 if reported within 60 days.
While the EFTA protects debit card transactions, credit cards fall under the purview of the Fair Credit Billing Act. Also known as the Truth in Lending Act.
BNPL programs are so new that they aren’t subject to the same federal regulation or consumer protections as other payment methods like credit or debit cards.