5 ms·

> if everybody has iPhones, Apple's Cash functionality is good and google pay? this may surprise you but in my immediate family only 1 (out of 6) has an iphon

by throw7 4y ago

> if everybody has iPhones, Apple's Cash functionality is good and google pay? this may surprise you but in my immediate family only 1 (out of 6) has an iphone. we basically use zelle to transfer cash around. I personally will not use paypal or venmo, but I do use google pay.

recursive 4y ago
What's the issue with paypal and venmo?
- heliodor 4y ago
  Venmo doesn't offer 2fa with an authenticator app. Only text message 2fa. Leaves you open to sim swap attacks, which are common and the carriers are doing nothing to prevent.
- judge2020 4y ago
  Probably due to the paypal horror stories; note that Paypal acquired Venmo in their Braintree acquisition: https://techcrunch.com/2014/02/19/venmo-now-lets-you-find-and-pay-other-nearby-venmo-users/ https://techcrunch.com/2014/02/19/venmo-now-lets-you-find-an...
- pb7 4y ago
  PayPal has a long shiny history of screwing people over and Venmo is now not only owned by PayPal but the app is hot garbage and gets worse with every update (probably due to the aforementioned ownership).
  - Maursault 4y ago
    I use PayPal, not as heavily as I have in the past, but I have been scammed by about a dozen sellers, and in all cases, PayPal refunded my money. I've never heard of PayPal screwing over customers, only that it being owned by eBay is annoying because eBay gets two sets of fees on payments for sellers.
    - pb7 4y ago
      I don't care enough to find the biggest stories over the last 15+ years but here are two articles from January 2022 referencing a class action lawsuit over freezing of funds without explanation: https://arstechnica.com/tech-policy/2022/01/paypal-stole-users-money-after-freezing-seizing-funds-lawsuit-alleges/ https://arstechnica.com/tech-policy/2022/01/paypal-stole-use... https://www.engadget.com/paypal-lawsuit-freezing-customer-accounts-funds-073128563.html https://www.engadget.com/paypal-lawsuit-freezing-customer-ac... And to be clear, this is not an isolated event.
    - Ekaros 4y ago
      Paypal is entirely reasonable as buyer. But I would never ever use it to receive money. Or hold balance there.
- boring_twenties 4y ago
  PayPal is known for keeping your money at length or indefinitely with no explanation or recourse. Venmo is a mindbogglingly stupid thing that requires you to take active steps just to keep it from broadcasting your financial activity to the world, and last I checked there was no way to keep your "friend list" from being public at all. On top of that there was a period where they disabled transfer functionality on their website altogether and the only way you could send money was through their proprietary mobile app. Seems they eventually reversed course on this, but I have no idea how long it took.
judge2020 4y ago
I also imagine FedNow might become apart of your workflow, depending on just how well it works (Releases May to July 2023) https://www.federalreserve.gov/paymentsystems/fednow_about.htm#:~:text=The%20FedNow%20Service%20will%20be%20released%20in%20phases%20and%20additional,is%20May%20to%20July%202023 https://www.federalreserve.gov/paymentsystems/fednow_about.h....
Maursault 4y ago
Not sure what your issue is with PayPal (philosophical objection to it seems to be popular), but at least PayPal will refund your money if you are scammed. Zelle will not and never has, and I suspect that is why banks won't cover Zelle scams. I personally consider Zelle itself a scam, and it boggles the mind why so many banks have partnerships with it. Automatic Zelle accounts when opening a bank account? Oh my God that is an astoundingly bad idea.
- davchana 4y ago
  Zell3 itself does not store any money. It's just an interface, a glue between accounts by supporting banks. Instead of asking the user their bank account number, routing number; you simply ask their zelle email or phone number (either of which can be with any bank, no info leaked). You send money. Zelle ask for phone or email of other party, then it shows their registered name in Bold. If one still confirms to send, its on them. Zelle options like check options, imagine if people said Oh my God auto check honor system??

by throw7 4y ago

recursive 4y ago

What's the issue with paypal and venmo?

heliodor 4y ago
Venmo doesn't offer 2fa with an authenticator app. Only text message 2fa. Leaves you open to sim swap attacks, which are common and the carriers are doing nothing to prevent.
judge2020 4y ago
Probably due to the paypal horror stories; note that Paypal acquired Venmo in their Braintree acquisition: https://techcrunch.com/2014/02/19/venmo-now-lets-you-find-and-pay-other-nearby-venmo-users/ https://techcrunch.com/2014/02/19/venmo-now-lets-you-find-an...
pb7 4y ago
PayPal has a long shiny history of screwing people over and Venmo is now not only owned by PayPal but the app is hot garbage and gets worse with every update (probably due to the aforementioned ownership).
- Maursault 4y ago
  I use PayPal, not as heavily as I have in the past, but I have been scammed by about a dozen sellers, and in all cases, PayPal refunded my money. I've never heard of PayPal screwing over customers, only that it being owned by eBay is annoying because eBay gets two sets of fees on payments for sellers.
  - pb7 4y ago
    I don't care enough to find the biggest stories over the last 15+ years but here are two articles from January 2022 referencing a class action lawsuit over freezing of funds without explanation: https://arstechnica.com/tech-policy/2022/01/paypal-stole-users-money-after-freezing-seizing-funds-lawsuit-alleges/ https://arstechnica.com/tech-policy/2022/01/paypal-stole-use... https://www.engadget.com/paypal-lawsuit-freezing-customer-accounts-funds-073128563.html https://www.engadget.com/paypal-lawsuit-freezing-customer-ac... And to be clear, this is not an isolated event.
  - Ekaros 4y ago
    Paypal is entirely reasonable as buyer. But I would never ever use it to receive money. Or hold balance there.
boring_twenties 4y ago
PayPal is known for keeping your money at length or indefinitely with no explanation or recourse. Venmo is a mindbogglingly stupid thing that requires you to take active steps just to keep it from broadcasting your financial activity to the world, and last I checked there was no way to keep your "friend list" from being public at all. On top of that there was a period where they disabled transfer functionality on their website altogether and the only way you could send money was through their proprietary mobile app. Seems they eventually reversed course on this, but I have no idea how long it took.

judge2020 4y ago

I also imagine FedNow might become apart of your workflow, depending on just how well it works (Releases May to July 2023) https://www.federalreserve.gov/paymentsystems/fednow_about.htm#:~:text=The%20FedNow%20Service%20will%20be%20released%20in%20phases%20and%20additional,is%20May%20to%20July%202023 https://www.federalreserve.gov/paymentsystems/fednow_about.h....

Maursault 4y ago

Not sure what your issue is with PayPal (philosophical objection to it seems to be popular), but at least PayPal will refund your money if you are scammed. Zelle will not and never has, and I suspect that is why banks won't cover Zelle scams. I personally consider Zelle itself a scam, and it boggles the mind why so many banks have partnerships with it. Automatic Zelle accounts when opening a bank account? Oh my God that is an astoundingly bad idea.

davchana 4y ago
Zell3 itself does not store any money. It's just an interface, a glue between accounts by supporting banks. Instead of asking the user their bank account number, routing number; you simply ask their zelle email or phone number (either of which can be with any bank, no info leaked). You send money. Zelle ask for phone or email of other party, then it shows their registered name in Bold. If one still confirms to send, its on them. Zelle options like check options, imagine if people said Oh my God auto check honor system??