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by toomuchtodo
730 days ago
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The term of art is an alias or proxy identifier, and you specify it in your banking app (which should have strong identity controls around it; also, a confirmation email or SMS OTP is sent). At least with Zelle, when you add a new contact to make instant payments from an email address or phone number, the app will surface the first name of the deposit account owner so you can confirm the person you're sending funds to is who you intend to send funds to. Passing around long account numbers for funds transfers is poor UX. Consider Venmo is a photo of someone and their Venmo handle, similar with TransferWise. https://fastpayments.worldbank.org/sites/default/files/2021-... |
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