3 ms·

Do those protocols have dispute resolution mechanisms? If not, they are not directly comparable to PayPal.

• pjmorris 3y ago
  Don't they have the dispute resolution mechanisms of the country implementing them, e.g. Australia, the US, India? Compared to that, PayPal seems like it'd have weaker dispute resolution mechanisms.
• carlosjobim 3y ago
  No, they don't. If you get scammed on a purchase the bank will simply say "Tough luck!" and ask you to stop bothering them. Credit and Debit cards offer unparalleled consumer protection, that's why consumers give preference to business that accept cards – it takes away at least some of the worry when purchasing. What I don't understand are the people who - as customers - want to do away with credit and debit cards and replace them with these bank transactions that have no protections.
  • yomlica8 3y ago
    I thought debit cards weren't a lot better than bank transfers in this regard. Credit cards certainly are better though.
    • JohnFen 3y ago
      Depends on the specific debit card. Many do offer strong protections. Always read the contract.