The issue I have with non-credit card purchases is who owns the fraud transactions. For that reason alone, I don’t like the idea of giving any site full banking information, especially given the sheer amount of data exfiltration that takes place on a regular basis.
Yes. Every purchase I do has two-factor authentication
If I do automatic payment, I need to set it up manually and also set a custom limit of how much is allowed to be pulled. I also typically get a notification every time an automatic transaction is planned to occur
CVV is printed on the same side as the CC these days. It’s literally as if your CC was 19 numbers long instead of 16. If you still have a card where it’s printed on the back then yeah, it’s sort of a “I have physical access to the card to flip it” factor of authentication.
this. it sorta annoys me putting in the payee endpoint as well. You should be able to get a number or code or whatnot from the place wanting payment and it will setup the payee endpoint and give you a code. You should then be able to purchase something and give the payee the code which they can do to send a bill to whats setup at your bank. then you go and authorize the payment and of course someone could set it to always accept payments from the payee if they are lazy. It also super annoys me that there is not more options on bank accounts. I want my savings to only allow transfers out to specific accounts I setup. Like my checking. Not allowing any transfers from other institutions. The checking can then be open and I can trasfer there before doing something else with it. Any type of transfer should always do a balance check and not go if insufficient balance is available with no fee.
What Americans tend to refer to as “fraud protection” is charge back policies, where the payment processor acts as Content Police and revert transactions if they hear the vendor was unfair to their customer (and they usually are on the side of the customer).
My EU bank won’t do that even on my credit card, because it’s insane that one would expect a financial institution to be judge, jury, and executioner in the case of a disagreement over legal services rendered.
Americans have to own up to the uncomfortable fact that dependence on these policies is what keeps the big credit cars companies in power, on top of severely driving up consumer prices (unfairly weighted towards the rich of course who get cashbacks thanks to the obscene money Visa makes on their enormous transaction fees) and being incredibly unfair to small vendors who don’t have the means to meaningfully dispute fraudulent chargebacks.
My country has our own government operated, fast, simple and cheap payment method so now visa and mastercard are making the US government pressure us to destroy it
… Trump probably wants to get you on the crypto standard so he can make Bolsonaro coins a thing with a royalty to him. America is so fully mobbed up now, sanctioning judges…
The issue I have with non-credit card purchases is who owns the fraud transactions. For that reason alone, I don’t like the idea of giving any site full banking information, especially given the sheer amount of data exfiltration that takes place on a regular basis.
We really need a push based payment system. It’s absurd someone can take money from you simply by knowing your credit card or bank numbers
Wait, where in the world does that happen?
…don’t tell me that in the US if someone has your banking details they can do literally anything they want, and just empty your account
Yes that’s how it works
They absolutely can, yes.
deleted by creator
Yes. Every purchase I do has two-factor authentication
If I do automatic payment, I need to set it up manually and also set a custom limit of how much is allowed to be pulled. I also typically get a notification every time an automatic transaction is planned to occur
I fucking wish
deleted by creator
CVV is printed on the same side as the CC these days. It’s literally as if your CC was 19 numbers long instead of 16. If you still have a card where it’s printed on the back then yeah, it’s sort of a “I have physical access to the card to flip it” factor of authentication.
My phone if it isn’t a physical purchase where the chip on the card is used
deleted by creator
this. it sorta annoys me putting in the payee endpoint as well. You should be able to get a number or code or whatnot from the place wanting payment and it will setup the payee endpoint and give you a code. You should then be able to purchase something and give the payee the code which they can do to send a bill to whats setup at your bank. then you go and authorize the payment and of course someone could set it to always accept payments from the payee if they are lazy. It also super annoys me that there is not more options on bank accounts. I want my savings to only allow transfers out to specific accounts I setup. Like my checking. Not allowing any transfers from other institutions. The checking can then be open and I can trasfer there before doing something else with it. Any type of transfer should always do a balance check and not go if insufficient balance is available with no fee.
A lot of European countries have direct bank transactions streamlined, you scan a QR code and fraud is owned by the bank.
It’s ecen more secure than cards, since you can’t get double charged by the vendor.
What Americans tend to refer to as “fraud protection” is charge back policies, where the payment processor acts as Content Police and revert transactions if they hear the vendor was unfair to their customer (and they usually are on the side of the customer).
My EU bank won’t do that even on my credit card, because it’s insane that one would expect a financial institution to be judge, jury, and executioner in the case of a disagreement over legal services rendered.
Americans have to own up to the uncomfortable fact that dependence on these policies is what keeps the big credit cars companies in power, on top of severely driving up consumer prices (unfairly weighted towards the rich of course who get cashbacks thanks to the obscene money Visa makes on their enormous transaction fees) and being incredibly unfair to small vendors who don’t have the means to meaningfully dispute fraudulent chargebacks.
I’m cool with going around the system if it has become corrupt by enforcing censorship. We need a way for CryptoCurrency to become standard.
My country has our own government operated, fast, simple and cheap payment method so now visa and mastercard are making the US government pressure us to destroy it
Which country?
Brazil
… Trump probably wants to get you on the crypto standard so he can make Bolsonaro coins a thing with a royalty to him. America is so fully mobbed up now, sanctioning judges…