All recurring payment providers now support a "vault" feature, where you exchange the payment details for an opaque token. You (the utility company) stores this token and uses it to initiate payments.This is a false comparison. Sending someone a paper check does NOT result in the data on the check being stored on their website. It is not the biller I fear getting my info, but hackers of their website is the concern. Not advocating paper checks at all (risk there is intercepted paper risks check washing).
I've had utilities, mortgage companies, auto loan companies, and credit card companies initiate direct debit for 20 years. That's anywhere from 24 to 100 direct debits each year for two decades with absolutely no issues.
Statistics: Posted by exodusNH — Fri Apr 26, 2024 7:27 am — Replies 23 — Views 1310