[gpvos]

I don't think this was driven by law, but by an appropriate wish to increase transaction security (you really shouldn't use SMS for this anymore).

There are some rules here that are nonsense, such as know-your-customer laws that force me to enter my home address even when the product or service (say, a concert or train ticket) is delivered to me entirely electronically.

Most of the move to purely electronic payment is driven by the market and the large banks; e.g. in the Netherlands we actually never had laws that force shops to accept cash as payment.

[bubblethink]

I agree that you shouldn't use SMS. My point was that unless the law (if there is one), requires that 2FA be enabled in an accessible way, the banks will do their own thing with the phone push notification system. The 2FA situation is quite bad in the US too, but a small no. of banks do offer TOTP.

[toastal]

This whole situation caused me to throw up my hands in Thailand and now I pay for most everything in cash since it's still a cash-friendly nation.