3 ms·
Instant settlement is an anti-feature. I don't want some asshole to be able to instantly drain my bank account. If I did, I'd be carrying a suitcase of cash ar
by vkou 9mo ago
Instant settlement is an anti-feature.
I don't want some asshole to be able to instantly drain my bank account. If I did, I'd be carrying a suitcase of cash around with me.
- deleted 9mo ago[deleted]
- olalonde 9mo agoYou can have instant settlement while still maintaining fraud safeguards (e.g. daily payment limits) and remediation mechanisms (e.g. reversing fraudulent transactions). With modern 2FA and device-based security, this risk is extremely low. Not a risk that justifies a 2.5% tax on every transaction plus all the other disadvantages of the credit-based system.