3 ms·
>FedNow doesn't work outside of the US. And Europe has IBAN transfers, which didn't kill Paypal. Although I am not quite sure why paypal hasn't been killed. U
by constantcrying 3y ago
>FedNow doesn't work outside of the US.
And Europe has IBAN transfers, which didn't kill Paypal.
Although I am not quite sure why paypal hasn't been killed. Using my bank account is almost always as simple as paypal and most stores offer some form of it.
- consumer451 3y agoI have been in the EU a lot over the last few years and no one I know uses anything but direct bank transfers. I don’t think any of my EU friends have a paypal account.
- ilikeitdark 3y agoI'm from the USA but been living in Spain for ages, and I'm the only one I know that uses PayPal. Everyone does bank transfer.
- ekabod 3y agoI don't think you have been to France. I am french, and I use Paypal all the time because I don't want to give my CC numbers and a majority of online store offer Paypal as an option to pay. Direct Bank transfer to pay online is not widely offered.
- consumer451 3y agoI have not spent much time in France, and I guess that use Apple Pay to accomplish the same goal of not sharing credit cards.
- worklaptopacct 3y agoDepends on the country. In Poland, most banks use a standardized interbank instant cheque system which is integrated with your phone number, and everyone would use that for settling small sums between each other. Sweden has a similar system that's even more flexible. Meanwhile, German banks offer a similar solution (giropay), yet - in this privacy-obsessed society - everyone uses PayPal instead.
- constantcrying 3y ago>yet - in this privacy-obsessed society - everyone uses PayPal instead. I don't get why to be honest. Banks are far more regulated than Paypal...
- JohnFen 3y agoI know someone who uses it because they can't get a bank account. If you're unbanked, your options are pretty limited.
- toomuchtodo 3y agoCan you share why they can’t get a bank account?
- JohnFen 3y agoI don't know the details, unfortunately, but I know it's connected to a financial disaster they suffered. It's not as rare as you might think, though. 4.5% of US households are unbanked.
- constantcrying 3y agoValid reason I guess. Being unbanked should certainly be illegal.