Push payments improve security by not giving any intermediaries information they could use to take money - there is no "credit card number" exchanged, so there is nothing to leak or steal.
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I have been wishing that credit card companies would switch to push payments for, oh, I don't know - twenty years? And they are completely uninterested in that, preferring instead to do useless things like embedding chips into their physical cards.
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So here's hoping the crypto wave, whatever becomes of it, at least brings about a switch to push payments. Because it's the right design, and it's ridiculous that we still haven't gotten it from traditional banking.
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I have no idea how any of the two work, but from what you're saying it definitely *sounds* better.
Thanks. Twitter will use this to make your timeline better. UndoUndo
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What is the difference between push payments & pull payments?
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I am curious too. Any online resource about this?
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I couldn't agree more. The individual pieces of technologies in CC might be great and your example shows this perfectly. It's the mythology around CC that annoys me, as I've said in previous threads i believe. I wonder why pull payments is the MO?
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My knee jerk response is "has to do something with extracting more profits for nothing" but, I have too little insight to claim this as even remotely true.
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90% of the payments I do here are I think technically pushed based, it might be inherent to Maestro. We don't used credit cards much, and the only real damage you can do with my account number is send me money. So the tech is already out there.
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Same for me, in Germany many people use EC/Maestro. I do not even own a credit card anymore, was only necessary for me to have that for kickstarter, since they do not support EC, IBAN or PayPal payment
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