3 ms·
- No standardized audit trail - No way to know who's really on the other side I think these 2 are the biggest ones. You put in someone's phone number / email
by xboxnolifes 3y ago
- No standardized audit trail
- No way to know who's really on the other side
I think these 2 are the biggest ones. You put in someone's phone number / email, and you get maybe an associated name as reassurance. How do I know it's actually associated with an account the person I'm trying to pay has access to?
- jdmichal 3y agoIdeally you know that because banks have KYC (Know Your Customer). And Zelle accounts must be populated by a bank. Individuals cannot just create a Zelle account. They must open an account with a bank -- and thereby undergo KYC -- who then creates their Zelle account.