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You forgot to mention UX. SEPA payments have horrible user experience. The "modern" way of receiving money in automated manner in Europe and using SEPA is throu
by mopsi 4y ago
You forgot to mention UX. SEPA payments have horrible user experience. The "modern" way of receiving money in automated manner in Europe and using SEPA is through payment providers. On checkout, customers get redirected to payment providers with strange startup names they've never heard about to initiate a transaction, and then redirected to their bank to log in and approve the initiated transaction. This is basically training people to accept phishing and MITM attacks.
Checkout via Paypal or debit/credit cards is much more straightforward and user-friendly, which is why they are still widely used (along with local services like Swish). A crypto wallet app that just requires scanning a QR code is even better, and miles ahead of anything SEPA/PSD2 offers in terms of user experience.
- KarlKemp 4y agoHow do I scan a QR code on my phone? Do I need a mirror? If it’s so great, why is nobody using it? If people are so easily fooled into MITM attacks, why do they not happen? Have you used Apple Pay? Works quite well.
- lmm 4y ago> How do I scan a QR code on my phone? Do I need a mirror? > If it’s so great, why is nobody using it? Where I live people pay by scanning QR codes all the time. > If people are so easily fooled into MITM attacks, why do they not happen? They do! People are getting scammed on these systems all the time; usually the provider agrees to repay the funds to keep them quiet.
- omnimus 4y agoIf QR codes are such a big UX plus then i hate to break it to you but all bank apps in my country read and create QR and people use it all the time. SEPA included. Its quite lovely on invoices i must say. Whats probably not there is that not every EU country uses this but that is matter of time. The banks are international, popular features spread. It will probably become standard very soon.