alt Hacker News> Wero lets users send money using just a phone number
Of course, what could go wrong!!
Unbelievable, a chance to make a whole new standard, new system, new everything, but yet we still have the need to tie it to ancient protocols, only to find later it’s broken by design and we start adding all sort of duct tape solutions to make it “secure”..
This is either a completely and entirely stupid move by some boomers living in the 80s, or maybe, it’s intentional to enforce something insecure like a phone number/GSM as a “national ID” to easily track citizens and force them to have a phone number linked to their real life, and I think it’s the second one, the same reason why many “secure” chatting apps still require a phone number.
Replies
TBH many European payment apps use the phone number as an ID and people seem to love it. I share the privacy concerns but if I don't want someone to know my phone number I just give them my IBAN.
It screams of needing a Google or Apple app
We have had these apps in various EU countries for quite a while and it's been fine. You can get a prepaid SIM from a grocery store and register it with them, and so on. You can always SEPA transfer the money if you don't want to use this.
It's also more convenient than giving out an opaque UUID to your friend to transfer you money or something similar.
The bigger problem I see with this is it being one more service locked exclusively to Android and iOS devices, but it's the same with most currently used banking apps anyways.