Linux apps like Quicken are badly needed 3384
Linux apps like Quicken are badly needed 3385
Timo Pirinen "Visa Electron" appears to be what we call a "debit card." Out here it's basically something that looks...
Many of us poor saps don't live paycheck to paycheck and can easily wait until the check clears. When I write a check to the school for sports-trip-parking... it's not like the school needs that money immediately. The landscaper, I pay him once a month during the summer. He's not rich but he can certainly afford to wait 2-3 days for my check to clear.
Once I've written the check for all practical purposes the money is gone. Why should I care if it takes the bank a couple of days to transfer it. If anything this helps me simply because I wrote the check today but the money will still sit in my account for the next day or two.
It sounds like this is "different" than writing a check. Not necessarily faster, easier or more accurate, only different.
So somebody goes in to a store, buys some goods then enters some numbers into their cell-phone. Turns to the merchant and says - I just paid you. How does the merchant know that the payment has actually been made and that it was made in the correct amount?
At least with a check they can look at it to verify the amount and they actually have the payment in their possesion.