alt Hacker NewsBanks and Visa/Mastercard probably love that you fill out your CC details on an online store, and next time you can just 1-click pay. Probably causes a big jump in revenue/profit. That's why they never innovated much.
Of course, it is incorrect, and digital payments everywhere (on a kiosk or online) should be intentional pushes, not pulls.
Replies
akdev1l • today at 2:10 PM
You could still have this 1-click experience with another system.
Like you could set some rule like “this vendor is approved for charges below $50”. We don’t need the legacy system for that.
(I don’t know if any payment systems can do that atm, just that if we wanted we could make them do that)
Visa seemed not to care too much about fraud though so at some level they do prefer ease of use over security
I want many payments to be pull-based (at least I'd go crazy having to positively sign off every utility bill and subscription), but the ideal user interface for pull payments shows who exactly is pulling what, with a few days notice, and a one-click way to cancel any standing authorization.