> Moving liability to the banks is not an ideal solution. Why not? It works pretty well in many countries. Chip-and-pin credit cards work fine in practice, wh

> Moving liability to the banks is not an ideal solution. Why not? It works pretty well in many countries. Chip-and-pin credit cards work fine in practice, which is why they haven't been replaced. The only thing better is credit cards with contactless payment, which happens to be at that sweet spot where the tech benefits banks (less liability) and consumers (quicker). I'll use a credit card over some shitty app any day. > Why isn't there a oauth-like permission based system yet? Where I can authorize recurring payments of fixed/variable amounts, authorize one-time payments, etc, and manage all these merchant at one place? Erm, in many countries you can, see direct debit. Again, solved problem. If your economy or banking system is fucked, that's a different problem, and tech may not be the answer.