This is true. The banking infrastructure within the European Union is really good compared to the US. The example I gave was regarding accepting online payment

This is true. The banking infrastructure within the European Union is really good compared to the US. The example I gave was regarding accepting online payments as a business from inviduals and other businesses. For US busineses, accepting credit cards is usually enough. Large bills can be paid by wire transfer. In the EU, accepting online payments is not that straightforward. Just figuring out the right VAT rate is complicated to begin with. See: https://ec.europa.eu/taxation_customs/business/vat/eu-vat-rules-topic/where-tax_en https://ec.europa.eu/taxation_customs/business/vat/eu-vat-ru...