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Have something similar in Sweden for years called Swish. Transfers instantly from my account to another person or business, all it takes is a phone number or Q
by TheChaplain 4y ago
Have something similar in Sweden for years called Swish.
Transfers instantly from my account to another person or business, all it takes is a phone number or QR code. And I can also send request for payment.
Only drawback is there is no protection like with debit/credit cards, so no chargeback.
- notch656a 4y ago>Only drawback is there is no protection like with debit/credit cards, so no chargeback. I see that as an upside though. Fraud (and other protection) is essentially an insurance service you pay for, often in several percent premium. This service would lose its utility to me if I had to pay a premium to cover fraud. We already have debit/credit for those who want fraud protection.
- xur17 4y ago100% agreed. Zelle is somewhat similar to this, but overly complicated + doesn't always settle instantly. I'd love to be able to hand folks a simple string or image, and have them able to send funds to me instantly, irrevocably, with no fees, and in a way that they can't pull funds back from my account (cough checks / ach).
- Qworg 4y agoRE: Swish - have you found int'l travellers still having issues with it? There were many stories about non-Swedish visitors being locked out of commerce a few years ago.