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> 4. In Sweden, and some other European countries (and China?) a lemonade stand works by person-to-person bank transfers, initiated using a mobile phone app. Th
by deaddodo 9y ago
> 4. In Sweden, and some other European countries (and China?) a lemonade stand works by person-to-person bank transfers, initiated using a mobile phone app. The Swedish one is called Swish, but I link to the Danish one [2] as they have an English explanation.
The United States has this via Venmo. But Venmo doesn't replace business transactions, only personal ones.
- bckygldstn 9y agoUnlike Venmo, Swish lets you transfer money instantly between bank accounts. There are no social features like profile pictures, emojis, or public transactions. And it uses proper authentication, rather than typing your banking password into a third-party app. Venmo falls well short of the transfer apps in most countries.
- lotsofpulp 9y agoThe US equivalent would be Zelle, that is person to person. Venmo is person to Venmo to person.