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Notably, Canada has a system that works like UPI from India and is very widely used: https://en.wikipedia.org/wiki/Interac_e-Transfer https://en.wikipedia.org/w
by hlieberman 3y ago
Notably, Canada has a system that works like UPI from India and is very widely used: https://en.wikipedia.org/wiki/Interac_e-Transfer https://en.wikipedia.org/wiki/Interac_e-Transfer
- anothermoron 3y agoWow, as a Canadian I always thought that Interact was international.
- biscuitech 3y agoSame, until I went to the US where nothing is standardized and somehow there's private companies worth billions that cover this precise use case. It's actually mind blowing. The single banking system of Canada is a massive win in this regards
- tdhoot 3y agoInterac is also a for-profit corporation. It's just owned by an association of banks. Zelle would be the equivalent in the US.