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> The beneficiary of the check is the bank, but they tell you it is done for your own security. To clarify, this is about a liability shift. By putting custome
by madaxe_again 8y ago
> The beneficiary of the check is the bank, but they tell you it is done for your own security.
To clarify, this is about a liability shift. By putting customers through payer authentication, liability for fraud shifts to either the merchant or the customer, depending on the flow, rather than the bank. This is why the bank is the beneficiary.