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A comment on Can the Visa-Mastercard duopoly be broken?. Parent comment

Re:Can the Visa-Mastercard duopoly be broken? by andrewaylett on Thursday August 18, 2022 @12:26PM (#32511716)
The UK equivalent to Zelle isn't BACS/Faster Payments, but https://paym.co.uk/

As I understand things, the US equivalent to BACS would be ACH. Which is also sort code and account number, but allows pulling money without further authorisation as well as pushing money. Obviously doing that when you're not supposed to would be very illegal, but unfortunately that's not enough to stop everyone.

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Re:Can the Visa-Mastercard duopoly be broken? by mbesto on Thursday August 18, 2022 @01:46PM (#32512726)
Yup, that was my point. The OP thinks "we already have this in the US" and its not nearly the same.
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Re:Can the Visa-Mastercard duopoly be broken? by dndvr on Friday August 19, 2022 @09:26AM (#32520679)
is pulling via ACH basically a direct debit in UK terms?
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Re:Can the Visa-Mastercard duopoly be broken? by andrewaylett on Friday August 19, 2022 @10:33AM (#32521458)
Minus all the safety precautions that make DD generally safe to use.
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