> It hands over the customer's IBAN, which isn't really that much safer than a credit card number, since any merchant can trigger a SEPA Direct Debit using it.
Yes. And they would quickly lose their ability to process any payments. This is the exact same idea as how credit cards work. I don't see my IBAN as a secret, all my friends have it, as thats how they can send me money right to my account.
> that requires you to actively monitor for fraudulent transactions, which a decent system wouldn't allow in the first place.
So that rules out credit cards too, exact same system.
I'm not familiar with pix mentioned in the other threads, but I am not familiar with any other system that is better
Yes. And they would quickly lose their ability to process any payments. This is the exact same idea as how credit cards work. I don't see my IBAN as a secret, all my friends have it, as thats how they can send me money right to my account.
> that requires you to actively monitor for fraudulent transactions, which a decent system wouldn't allow in the first place.
So that rules out credit cards too, exact same system.
I'm not familiar with pix mentioned in the other threads, but I am not familiar with any other system that is better