Amazon has recently introduced a new payment option called 'Pay by Bank' that allows customers to transfer funds directly from their bank accounts without the need for credit or debit card information. While this option is designed to enhance the speed and convenience of online purchases, a consumer expert has issued a warning about the potential risks involved with this payment method. Specifically, the expert highlighted that using Pay by Bank could remove critical consumer protections commonly associated with card transactions, such as Section 75 rights and chargeback options.

The introduction of Pay by Bank aligns Amazon with other prominent retailers like Ryanair and Just Eat, who have also adopted this payment approach. The new method allows for quick transactions, which may appeal to many consumers seeking efficient online shopping experiences. Nonetheless, the ease of use is juxtaposed with the loss of protections that are instrumental in safeguarding consumer rights during online transactions, raising significant questions regarding the overall safety of this new payment option.

As the digital payment landscape continues to evolve with such innovations, consumers are urged to remain informed about the implications of choosing payment methods that may forfeit traditional safety nets. The warning from the consumer expert serves as a crucial reminder for shoppers to consider the trade-offs between convenience and consumer protection before adopting new payment methods.