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And it's unlikely that this will change anytime soon due to the lack on incentives on all sides. Funny as it may be my debit card for some reason has a $500 (u
by sly010 10y ago
And it's unlikely that this will change anytime soon due to the lack on incentives on all sides.
Funny as it may be my debit card for some reason has a $500 (unmodifiable) limit on chip&pin purchases, but it has no such limit for swipe purchases. When I asked them how is that more secure, I got a verbal shoulder shrug.
Banks are in the business of underwriting. I believe at least on the corporate level they probably don't like the idea of fully secure, verifiable payments, because that would mean you don't need them anymore.
- nine_k 10y agoBanks are also in a business of storing your money, transferring your money, and borrowing you money. Note that "storing" here is actually "letting the bank invest the money". I don't think any of these activities are undermined by completely verifiable purchase transactions.
- lostlogin 10y agoCan you explain what you mean by "unmodifiable"? I have a limit, but on the banks app and website I can lower it (and I keep it very low) in the hope that any issues I have would be limited by this. Is this not actually worth doing?