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Oh, so payments are handled offline mostly?
by sawirricardo 2y ago
Oh, so payments are handled offline mostly?
- patrakov 2y agoOnline banking still exists. That is, you log into your bank and specify the recipient's bank, account number (or IBAN), the amount, and the purpose of the transfer.
- FearNotDaniel 2y agoNot exactly, but sometimes. Speaking as a Brit living in Austria, I generally see three payment options available with a lot of online retail: - normal credit/debit card, which can go through all sorts of different "middlemen", US or European based depending on the site - "immediate" bank transfer, which is still integrated into the payment flow and provides confirmation straight away, and is usually handled by the Swedish/German middleman Sofort/Klarna - suprisingly still very common, at least here in Austria, is the "send me an invoice" option, even for physical goods that are being shipped, then the customer makes a manual bank transfer after the goods have been received
- funcDropShadow 2y agoWhy offline? You go to your bank web page, login, enter the recipients account information (EBAN) and press transmit. Or you have that automated from SAP or a number of other software products.
- funcDropShadow 2y agoAsynchronous is a better characterization than offline.
- moooo99 2y agoSEPA is a thing and has basically 100% EU coverage. It’s cheap and well supported, and you don’t add any additional middlemen (you only have the banks that you’re using anyways)