this post was submitted on 06 Feb 2024
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[–] [email protected] 16 points 10 months ago (1 children)

This is why we need to push the banks to offer better payment services. Fucks like him got rich with paypal because of inefficiencies in our banking systems. They are basically taxing all e-commerce by 1-3%.

I was finally able to do an insta-wire transfer to an online shop last month for the first time. Just my bank, transfering money and instant reception. But I still need to log in to a janky ass mobile app and approve each payment with an password / pin that needs to be short ergo insecure. Banks are still not offering the use of fido2 authentication. And there is still no electronic standard where a shop can send a payment request to autofil the wire transfer. There are better payment processors now but they still gobble up ~1% of the transfer. It's a fucking racket.

[–] [email protected] 3 points 10 months ago (1 children)

Somehow Canada had this figured out for ages. C'mon southern neighbours!

[–] [email protected] 3 points 10 months ago

Well I was talking Europe and SEPA. Hopefully we'll see more improvements so that the money faucet to these payment services dries up.