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Visa is a private business, they have the right to do business wi... yadda yadda yadda. But, in a world in which online payments are more important than ever,
by dna_polymerase 6y ago
Visa is a private business, they have the right to do business wi... yadda yadda yadda.
But, in a world in which online payments are more important than ever, shouldn't the governments provide an alternative for businesses? Or at least have some kind of guarantee for business to be able to participate in online business?
- akvadrako 6y agoMost places do have alternatives payment methods which don't depend on visa or mastercard, though they are usually country-specific. We need an international protocol for sending payments via your own bank's app.
- the8472 6y agoThat already exists in europe through the SEPA, using standardized bank account numbers (IBAN).
- akvadrako 6y agoSEPA is not what I’m talking about - there is no way for a store to have a “buy with SEPA” button at checkout which doesn’t require manually entering account numbers.
- the8472 6y agoWith a credit card you enter your own credit card number in the shop's site. With sepa direct debit you enter your account number in the shop's site. With instant transfer you enter someone else's account number in your banking app. The modality differences are minor, all of them are payment methods. Perhaps not the payment method you prefer, but still an alternative.
- akvadrako 6y agoI have never seen a website offer SEPA direct debit and for good reason - that would be ripe for fraud; they can usually be reversed. For manual transfers, not only would you need their account number, but you would need the amount and transaction code and to manually enter those in your bank's app. Then, you have to manually return to the store's website to see if it succeeded. So no, the differences are not minor.
- the8472 6y ago> I have never seen a website offer SEPA direct debit and for good reason - that would be ripe for fraud; they can usually be reversed. I have seen plenty of those. Including amazon. > For manual transfers, not only would you need their account number, but you would need the amount and transaction code and to manually enter those in your bank's app. Then, you have to manually return to the store's website to see if it succeeded. That is a minor difference in my book. Fundamentally it's still a payment method and online. And it's not like credit cards are frictionless either, their verification has become more complex over the years too, redirecting you through various steps and requiring additional authentication.
- sdinsn 6y ago> shouldn't the governments provide an alternative for businesses There is: cash.
- bediger4000 6y agoI believe the US government still runs the check clearing. Checks are a convenient, portable form of payment, complete with government subsidy!