this post was submitted on 04 Jul 2025
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The rise of Whatever (eev.ee)
submitted 16 hours ago by e8d79@discuss.tchncs.de to c/techtakes@awful.systems
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[–] V0ldek@awful.systems 9 points 10 hours ago (1 children)

Either that, or live in some futuristic utopia like the EU where banks consider "send money to people" to be core functionality. But here in the good ol' U S of A, where material progress requires significant amounts of kicking and screaming, you had PayPal.

Wait what? Can people in the USA not, em, transfer money? What do the banks do then?

[–] corbin@awful.systems 4 points 7 hours ago

We have EFTs via ABA numbers and they are common for B2B transactions. Retail customers prefer payment processors for the ability to partially or totally reverse fraudulent transactions, though; contrasting the fairly positive reputation of PayPal's Venmo with the big banks' Zelle, the latter doesn't have as much fraud protection.

Now, you might argue that folks in the USA are too eager to transmit money to anybody that asks, and that they should put more effort into resisting being defrauded.