Re:MyPayrollHR CEO Arrested, Admits to $70M Fraud
by Someone on Friday September 27, 2019 @05:44PM
(#21096553)
”The working lower-class still uses pay checks since they're paid on a weekly basis.”
How does that follow? People make electronic payments of a few dollars millions of times a day, with the banks still somehow making money on it. Now, paying a few hundred a week isn’t feasible?
”I think when margins are thinner, it's cheaper to write checks than to set up direct deposit.”
From what I know about automation and American banks, I (perhaps too cynically) think it’s less about being cheaper than about being more profitable for the banks.
How would maintaining the infrastructure to move pieces of paper around, check them for validity, moving the necessary cash around, etc. be cheaper than scaling an existing digital system to handle 10% or 20% more customers?
Re:MyPayrollHR CEO Arrested, Admits to $70M Fraud
by xeromal on Friday September 27, 2019 @06:22PM
(#21096785)
I meant cheaper for employers. My brother works for a small tile laying company and they all prefer to get checks. It's kind of a blue collar/white collar divide in the US
How does that follow? People make electronic payments of a few dollars millions of times a day, with the banks still somehow making money on it. Now, paying a few hundred a week isn’t feasible?
”I think when margins are thinner, it's cheaper to write checks than to set up direct deposit.”
From what I know about automation and American banks, I (perhaps too cynically) think it’s less about being cheaper than about being more profitable for the banks.
How would maintaining the infrastructure to move pieces of paper around, check them for validity, moving the necessary cash around, etc. be cheaper than scaling an existing digital system to handle 10% or 20% more customers?