Certain services, in particular neobanks, give the possibility to fund their account with Apple Pay (make a top-up, as we say in English). This has been the case for Revolut for a long time and for N26 since the spring.
In the “Manage” part of the N26 application, touch the “Receive” option then select “Apple Pay”. We then define the amount (20 € minimum), we confirm it, then we validate the operation with Face ID / Touch ID. This function is typically used to fund his secondary bank account with his main account.
Your default Apple Pay card is automatically selected for money transfer, but you can choose another one just before confirming the transaction.
This transfer via Apple Pay is quite practical: it is faster than a transfer and simpler than a top-up by bank card, since it is not necessary to enter the number of the card, as it is already registered in Wallet. But beware of the costs: at N26, the first top-up via Apple Pay is free, but the following ones entail a commission of 3% (€ 0.60 for a payment of € 20, for example).
If N26 recently added this possibility to its service, others have done the opposite. The neobanks Monese and bunq withdrew it due to fraud.
When you carry out a banking transaction, your bank carries the Liability Shift, that is to say that it brings the guarantee of payment to the merchant, explains the specialized site ma-neobanque.com. Apple Pay never carries Liability Shift, as there is no cardholder authentication with the financial institution (not to be confused with local authentication). With an Apple Pay payment, the merchant may therefore be faced with a payment dispute.
The fraudster who has successfully obtained the data from his victim’s card, as well as the validation code received by SMS, will be able to save it in his Wallet. At this point, there is no longer any authentication of the bearer with the bank. Apple Pay does not carry the Liability Shift, the merchant is not covered by a payment guarantee. bunq was the victim of this type of fraud. Bunq accounts were recharged via extorted Apple Pay cards, then accounts were quickly emptied elsewhere.
According to ma-neobanque.com, to avoid this fraud, Revolut sometimes asks its customers who use recharging via Apple Pay to prove that they are the card holders.