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Interesting, and potentially useful to decrease payments friction, although the challenge with these sorts of transfer schemes is that non-repudiation of contra
by com 6y ago
Interesting, and potentially useful to decrease payments friction, although the challenge with these sorts of transfer schemes is that non-repudiation of contractual “promises” is not addressed.
Oh yeah, aren’t ACH numbers fraud risks too, if they’re public?
I remember a story about a major German bank who reused an IBAN for one of their treasury accounts and honoured direct debits for quite some time, so there are some risks with IBANs being known in some cases.
I think that removing friction will also make fraud much easier and prevalent.
- wbl 6y agoJust because your country's bankers are too stupid to have different numbers for in and out doesn't mean the rest of the world is.
- marcosdumay 6y agoNon repudiation is handled by the payment provider. The standard is just a link to ask for payment, not a money transfer system.
- dtech 6y agoIBAN numbers are not secret and are on payment cards and websites already. If that causes problems the system or vulnerability should be fixed, not try to twist in turns to keep those numbers secret.