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A comment on Financial innovations brought by technology. Parent comment

Re:Financial innovations brought by technology by vineyardmike on Friday October 29, 2021 @06:03PM (#29044041)
> give you a special code that I create you can take an amount of money directly from my bank account, specified by the code. No need to use something like stripe.

> give you a special code that I create you can take an amount of money directly from my bank account, specified by the code. No need to use something like stripe.

That is a check, but digital.

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Re:Financial innovations brought by technology by ikr678 on Saturday October 30, 2021 @01:39AM (#29046264)
The 'allowing someone to take money from my account' mentality in the US has always struck me as weird framing and prone to abuse/trust issues.

In Australia, I initiate all of my payments on my side to the target account/company/etc. I am giving the money to you, not 'authorising you to take it' from my account. Having someone's bank account details only allows you to pay them, not request payments from them.

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