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5 years ago I heard of US banks printing a check and mailing it across the country (followed by all the usual delays due to clearing the check) in reaction to a
by pgeorgi 9y ago
5 years ago I heard of US banks printing a check and mailing it across the country (followed by all the usual delays due to clearing the check) in reaction to an online banking transaction (or ACH or whatever).
That seemed like a joke to me, but apparently a paper check in the mail was the only universally accepted interface for inter-bank transactions.
- piyush_soni 9y agoI moved to India 2 years back, and surprisingly, in daily life it looks so much advanced here! Here we order groceries, food, medicines, everything online, and you think of a way of payment, and it's there. "Paytm" changed the way of digital payments forever in stores (even roadside sellers and stalls). In US I used Google Wallet to pay in stores through my phone, but with paytm it's even easier. You scan vendor's barcode, type the amount, and click 'Send'. That's all. Then came UPI, which removed another layer of uploading money beforehand. Going cashless has become a breeze.