TechTakes

2027 readers

244 users here now

Big brain tech dude got yet another clueless take over at HackerNews etc? Here's the place to vent. Orange site, VC foolishness, all welcome.

This is not debate club. Unless it’s amusing debate.

For actually-good tech, you want our NotAwfulTech community

founded 2 years ago

MODERATORS

dgerard@awful.systems

The rise of Whatever (eev.ee)

submitted 23 hours ago by e8d79@discuss.tchncs.de to c/techtakes@awful.systems

12 comments fedilink hide all child comments

you are viewing a single comment's thread
view the rest of the comments

[–] corbin@awful.systems 4 points 13 hours ago (1 children)

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.

[–] V0ldek@awful.systems 5 points 6 hours ago

Retail customers prefer payment processors for the ability to partially or totally reverse fraudulent transactions, though

Wait, but again, isn't this the main thing that banks provide? Like I can call my bank and tell them listen, this transaction was fraudulent, and that's it, it's gone. They sometimes even call me first to double-check that a large-sum wire was actually authorised by me.