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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 ment
by 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 agoI 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 agoBut why would you pay by bank transfer? Why not pay (contactless) with your phone/wearable/regular card?
- alexaholic 4y agoA bank transfer would exclude the intermediaries: Visa, Mastercard, Apple, Stripe etc.
- dathinab 4y agoProbably, 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 agoSepa instant already exists, this addresses the fact that banks and institutions are taking way too long to support.