In most of Europe actually. In fact I am not sure if there's any other country that likes the "pull" model as much the United States does. Wherever it exists i

In most of Europe actually. In fact I am not sure if there's any other country that likes the "pull" model as much the United States does. Wherever it exists it's there mostly due to historical reasons - in the past it was not possible to quickly validate and push a transfer, so you needed credit card companies to underwrite a small amount of credit (between now and end of month settlement). Kind of similar like how the US is so backwards when it comes to regular bank transfers (good luck using SWIFT). And how the Fed dollar is not exactly the same as the eurodollar. Some countries just like to be special :)