Your Mother’s Maiden Name Is Not a Secret

Re:Your Mother’s Maiden Name Is Not a Secret by shakna on Friday December 29, 2017 @10:13PM (#16033637)

CommBank and NAB spear-headed instant transactions.

CommBank dropped an absolute mint on it, with a goal of sub-second transactions, with decent fraud protection.

After a bunch of talks between the big banks, and VISA and MasterCard, and a little bit to do with the ombudsmen from various government branches, it was decided to share out that architecture, including fraud protection.

The fraud protection is actually really good, and thanks to actual cooperation between the banks, reimbursement is a fairly likely scenario.

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Re:Your Mother’s Maiden Name Is Not a Secret by nickonline on Saturday December 30, 2017 @01:36AM (#16034168)

None of the banks really wanted instant transactions, it's expensive, the RBA essentially forced them to.

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Re:Your Mother’s Maiden Name Is Not a Secret by willvarfar on Saturday December 30, 2017 @04:08AM (#16034499)

Big win for consumers and businesses then.

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