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However, it's not just about one country, this is (also) about 27 countries and the payment between them. Imagine being able to pay that quickly to your econom
by neals 3y ago
However, it's not just about one country, this is (also) about 27 countries and the payment between them.
Imagine being able to pay that quickly to your economically challenged neighbor (Argentina)?
- rihegher 3y agoNitpicking but this is about euro transfers so a bit less than 27 countries
- gcbirzan 3y agoThat's not true. Payments in EUR have to follow these rules.
- p_l 3y agoYou can make EUR transfers to anyone in those 27 countries. "Euro Transfer" as in SEPA means that the currency of the transfer is set to EUR and that currency exchange is not part of the transfer itself (it can be done at originating or retrieving bank when the account involved is not in EUR, but the transfer itself has to be denominated in EUR at entry and exit from SEPA system)
- nraynaud 3y agooh god, don't go there! the payment area is not the same as Eurozone. Because no two things around here uses the same list of countries. "There are 36 countries in the SEPA area." https://www.revenue.ie/en/starting-a-business/documents/guide-to-sepa.pdf https://www.revenue.ie/en/starting-a-business/documents/guid...
- grotorea 3y agoAlready a thing! At least for tourists. https://g1.globo.com/economia/noticia/2023/07/16/pix-tipo-exportacao-pagamento-instantaneo-se-populariza-na-argentina-com-real-valorizado.ghtml https://g1.globo.com/economia/noticia/2023/07/16/pix-tipo-ex... But there have been some noises in the direction of expanding regular service through Latin America. India's UPI also seems to be internationalizing. And there's FedNow in the US that is probably going to get automatically popular just for being from the US. Wonder if we're going to end up with a bunch of incompatible systems around the world or what.