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Will it be like Polish BLIK? https://en.wikipedia.org/wiki/Blik https://en.wikipedia.org/wiki/Blik Instant payments Money transfers over phone number 2 minu

Will it be like Polish BLIK? https://en.wikipedia.org/wiki/Blik https://en.wikipedia.org/wiki/Blik Instant payments Money transfers over phone number 2 minutes payment codes that you type on e.g website and accept payment in app Shopping example: https://www.youtube.com/watch?v=hBw1qa07gGU https://www.youtube.com/watch?v=hBw1qa07gGU Stats: https://www.youtube.com/watch?v=rDI4R94ZLvM https://www.youtube.com/watch?v=rDI4R94ZLvM

Goz3rr 4y ago
It's basically a SEPA transfer as they already exist, except instant. I'm not sure how Poland would fit into this exactly as the press release specifically mentions payments in euro, not zloty. Dutch banks have supported instant payments for a couple of years now, and the way person to person payments are most often done is through something called a "Tikkie" which involves sending someone a payment URL (via any messaging platform or a QR code) which then opens their own banking app on their phone.
- fy20 4y ago
  I guess the idea is to have a unified system throughout the EU, so if you are from Germany and you are on holiday in Portugal, you can still do instant transfers to pay in shops.
  - Goz3rr 4y ago
    But why would you pay by bank transfer? Why not pay (contactless) with your phone/wearable/regular card?
    - alexaholic 4y ago
      A bank transfer would exclude the intermediaries: Visa, Mastercard, Apple, Stripe etc.
- dathinab 4y ago
  Probably, a lot of banks in the EU have one or another instant payment system. And many have somewhat adept ways to convenient setup bank transfer between two people (e.g. through an qr code), standardizing this would be a much bigger improvement then just standardizing the first part.
- hoffs 4y ago
  Sepa instant already exists, this addresses the fact that banks and institutions are taking way too long to support.
yrgulation 4y ago
Sounds a lot like ING payments in Romania - takes seconds to transfer money in accounts at the same bank, and all you need is a phone number, or a qr code. Transferring to other banks takes a few hours and my understanding is that its getting faster.
lou1306 4y ago
Similar systems exist also in France (Paylib) and Sweden (Swish). Swish is embarassignly popular and also accepted in many shops. Making them compatible EU-wide seems like the logical next step.
- hocuspocus 4y ago
  https://empsa.org https://empsa.org
- robin_reala 4y ago
  There’s already an industry group doing that: EMPSA (European Mobile Payment Systems Association) https://empsa.org/ https://empsa.org/

Goz3rr 4y ago

It's basically a SEPA transfer as they already exist, except instant. I'm not sure how Poland would fit into this exactly as the press release specifically mentions payments in euro, not zloty. Dutch banks have supported instant payments for a couple of years now, and the way person to person payments are most often done is through something called a "Tikkie" which involves sending someone a payment URL (via any messaging platform or a QR code) which then opens their own banking app on their phone.

fy20 4y ago
I guess the idea is to have a unified system throughout the EU, so if you are from Germany and you are on holiday in Portugal, you can still do instant transfers to pay in shops.
- Goz3rr 4y ago
  But why would you pay by bank transfer? Why not pay (contactless) with your phone/wearable/regular card?
  - alexaholic 4y ago
    A bank transfer would exclude the intermediaries: Visa, Mastercard, Apple, Stripe etc.
dathinab 4y ago
Probably, a lot of banks in the EU have one or another instant payment system. And many have somewhat adept ways to convenient setup bank transfer between two people (e.g. through an qr code), standardizing this would be a much bigger improvement then just standardizing the first part.
hoffs 4y ago
Sepa instant already exists, this addresses the fact that banks and institutions are taking way too long to support.

yrgulation 4y ago

Sounds a lot like ING payments in Romania - takes seconds to transfer money in accounts at the same bank, and all you need is a phone number, or a qr code. Transferring to other banks takes a few hours and my understanding is that its getting faster.

lou1306 4y ago

Similar systems exist also in France (Paylib) and Sweden (Swish). Swish is embarassignly popular and also accepted in many shops. Making them compatible EU-wide seems like the logical next step.

hocuspocus 4y ago
https://empsa.org https://empsa.org
robin_reala 4y ago
There’s already an industry group doing that: EMPSA (European Mobile Payment Systems Association) https://empsa.org/ https://empsa.org/