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Earlier quoted context omitted.
On the other hand, account numbers are not a significant 'secret' or something like that. They are just as 'safe' to share as phone numbers.
Think about it this way: a check is just an account number on some fancy paper, with a few more numbers.
https://mobile.twitter.com/barclays/status/77386310895160115...
Earlier quoted context omitted.
I occasionally had disagreements with shop owners because I didn't have cash and I wanted them to add the payment fee manually so I could pay by card and actually - you know - buy stuff. A lot simply wouldn't - like I was attempting fraud or something.
I once tried to buy a beer in a small corner shop. The beer was 2€. The minimum charge for card payments was 5€. I agreed to pay 5€. The shopkeeper refused to charge me 5€. I walked out without my beer, sad, and wishing I'd remembered to carry some cash that day.
Earlier quoted context omitted.
On the other hand, account numbers are not a significant 'secret' or something like that. They are just as 'safe' to share as phone numbers.
For anyone in the US, if I have your bank account number, I can steal your money. I strongly advise you not to share your account number with me or anyone else. I have to commit fraud in order to steal your money, making it a crime, but stealing's a crime in the first place, so that's not going to deter thieves.
Earlier quoted context omitted.
Note that high fees aren't a prerequisite for consumer protection. European credit cards offer full protection, despite having capped interchange fees.
Do they? Can I get an immediate refund for anything if I don’t like the item? I can with my Amex. No questions asked under $1000.
Probably not, and almost definitely not at the small retailer. Amex charges are more for the retailer, so they often simply don't accept it.
Other than that, though: I'm not sure how often you even need that $1000 'no questions asked' policy. Second, return policies through the EU market (plus at least one country) are pretty good without credit card protections. It just really isn't a big concern. Finally, the culture around returning goods differs in different areas. Folks here (Norway) seem way less disposed to returning items - especially for simply not liking an item and would rather do some research upfront. (Not working as desired, defective, and things like that are a bit different, but folks still hesitate).
Still the easiest way to start selling online, at least in Europe... They've got the low volume starter business niche by the balls.
Paypal is a classic rent seeker. Nearly two years into pandemic, they still refuse to hire people for live customer service. Despite record profit. If anyone is looking for a startup idea: an online payment platform that charges on outbound bank transfers only. Heck charge 5% fee. And let all transactions be completely free.
I have seen absolutely zero coverage about this change so I wanted to make sure people knew about it. The change seems to have happened on August 2nd according to archive.org [1]. I checked my PayPal records to verify this was true and sure enough I've been paying the higher rate in fees starting after July. [1] https://web.archive.org/web/20210727095034/https://www.paypa...
They technically announced it [1], but I agree that it got next to no coverage. Presumably they deliberately "silently" put the announcement on their blog without circulating it to news outlets. HN discussion at the time [2]. [1] https://newsroom.paypal-corp.com/2021-06-18-Upcoming-Changes... [2] https://news.ycombinator.com/item?id=27560616
When I moved to the Netherlands, I was at first irritated that my credit cards weren't accepted anywhere. But as the debit (maestro) card transactions are often free [1], paying 3%+ to a card service does seem exorbitant. For online payments, the Dutch use the IDEAL system, which is even easier than online credit cards. This also prevents vendor lock-in, like Amazon. And, the banking apps make it super easy to send m…
> Looking back, I have to imagine that this 3%+ tax on all American transactions must put a weight on the system. I 100% agree. It's pretty absurd that all merchants have to pay a 3% fee on the vast majority of their transactions with no real alternative. And I realize crypto gets a bad rap around here, but I really do think stablecoins offer an interesting way around this. It's an open standard that anyone can build…
Can you specify what you're referring to? As someone who frequently yells "crypto fees" my understanding is most low-fee options either (a) require transfers within a centralized ecosystem, (b) aren't likely to scale effectively as a system (e.g. bitcoin's lightning network, or a shitcoin network of choice that's never experienced heavy usage) (c) are exciting but hypothetical future ideas, such as sharding on Ethereum
Paypal is a classic rent seeker. Nearly two years into pandemic, they still refuse to hire people for live customer service. Despite record profit. If anyone is looking for a startup idea: an online payment platform that charges on outbound bank transfers only. Heck charge 5% fee. And let all transactions be completely free.
That exists - wise.com.