Which one of these names resonates for a product that allows you to pay using your bank?
Brenna Curran
4 replies
The product allows you to connect your Bank via Plaid, so no account or routing numbers, no overdraft guarantee, and data security. And you'll get 1-2% off of your purchase since you're saving merchants the card processing fees.
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Matt Harbord@matt_harbord
🤯 I checked out Waivr - am I missing something here? Does the US not have Direct Debit as a common way to pay? Like how do y'all pay your bills?
If this is Direct Debit how about "Pay Direct" as a name? Or something else that uses the Direct part of DD?
I'm also intrigued as to whether this is the same as a standing order (fixed payment amount) or direct debit (merchant initiates amount each month) and whether in can be cancelled by the client (like both those payment types in UK), or it's more like a recurring card charge (which crazily has to be cancelled by the merchant).
I hope none of that seems critical - I'm just intrigued! It was a bit of a surprise that US colleagues wouldn't share their bank details when I needed to transfer them cash - absolutely the standard way to move money to someone in the UK rather than Venmo or PayPal. So clearly a very different banking system.
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@matt_harbord it is not common in the US market! Because it's mostly driven by paying with credit cards, it's a very credit dependent type of banking system
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The way you ask the question is biasing if this should be an honest test :)