101–110 of 222 posts
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You can email the mods and ask them to do so. Footer contact link and mention “FP #x” somewhere in the subject.
What’s "FP" for?
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Mostly German. The predecessor of Wero (iDeal) has been in use in The Netherlands for almost two decades. Nobody has credit cards here and everyone does online shopping with iDeal
To add, on top of iDeal (I think they're on top anyway, they're digital payment whatsits anyway) there's an age verification system using a similar protocol - where a website gets a "yes this person is >18" signal, nothing else, from the user's bank. And there's "tikkie" (payment request), allowing people to request money through a link and people's own bank account - no need for everyone to use the same apps or serv…
I am amazed on how this practical solution can't be implemented for age verification instead of all those ID uploads etc.
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I never worked for PayPal, but I did for a competitor. Dealing with fraud is a red queen game: The fraudsters can keep trying until they find what gaps are there in your system, and will sometimes communicate with each other: Part of our defense system involved infiltrating some of those spaces and seeing the guides that were being sold to try to commit fraud in our platform. Meanwhile you will still have a false pos…
Yeah. I had always thought these AML/KYC stuff were just governments/people in power expanding their arms into normal people's lives. I still think they mostly are, but after learning how much fraud is happening, I'm not sure what a better solution would look like.
What's so specific to German banks ?
Makes sense Germany would be particularly impacted, seems like the UK to agree was as well. It is restored now though.
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> The existing giro system is the real Paypal competitor. Most Europeans had access to Paypal-style money transfers before they had email. Not at all, not even close! In most cases, that's wrong even today. Want to sell something online? A book you wrote, a game you made? There's no way for people to pay you via giro and automatically receiving the good on the page where the payment process was initiated. Giro is not…
I'm trying to think of any bank that I've used that would not have "address book"-like functionality, and I can't think of one. All of them have this, and have had the feature for as long as I've used their online banking. Perhaps the banks you're used to aren't very modern? SEPA transfers are (at least mine have been) max. 1h until the transfer is complete (some limit this to "banking hours"). Instantaneous transfer…
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> but actual fraudsters and criminals are never deterred. When my argument is kinda weak I love throwing in some hyperbole to spice it up.
The article is about $10 billion dollars in fraudulent transactions that PayPal has allowed that the banks had to catch themselves. Given that, it's hard to say the OP is speaking in hyperbole.
German, well West European, banks are slow in creating a competitor to Paypal, called Wero. https://en.wikipedia.org/wiki/Wero_(payment) I'm not implying they block Paypal because of that. It's good to have more competition and I wished my bank would take part.
They never really had much of a reason to create a competitor. There where already plenty of alternatives once online shopping/payments became a thing. Here you could do "cash on delivery", credit/debit card, account transfers (yes even across banks, it not as big an issue as US banks makes it) or you could send stamps (not a popular options). There was never a need for PayPal or PayPal style services. These days it'…
It says nothing other than PayPal is having some security failures and banks are blocking deposits from PayPal. What are these security failures? What is the mechanism of fraudulent activity that is being exploited?
I’m surprised this was upvoted so much… am I missing something? It seems to be a bunch of words saying basically nothing.
In this case I think it's justified [0] to offer an alternate reporting: https://www.bbc.com/news/articles/cj6y42jggdyo > European banks have seen widespread unauthorised direct debits from PayPal accounts, the German Savings Banks Association (DSGV) says. > The German newspaper Sueddeutsche Zeitung (SZ) says payments worth in the region of 10 billion euros (£8.6bn) have had to be blocked, after PayPal's fraud-checki…
Better link: https://www.heise.de/en/news/Paypal-German-banks-apparently-...