Maybe make the bank Apps a little more intuitive to use and make it easier to send recurring payments to your friends and the monopoly of paypal in germany could disappear
Yeah. It’s really a UI issue at this point. Just a simple frontend to facilitate SEPA transactions to contacts (which could just be a simple Name -> IBAN map stored locally)
I could imagine something like an IBAN protocol - open an IBAN link as in iban://AB26374838388 directly with your banking app and auto fill the bank transfer menu. Only add the amount of money you want to transfer.
No idea what other implications that would have e.g. for security though
There’s a standard that does this in form of a QR code: https://en.wikipedia.org/wiki/EPC_QR_code
How is Australia ahead of Europe! We have Osko which allows instant transfer(seconds) upto $10,000 per day. It’s fantastic.
We’re talking about payments across different countries. Inside each country payments have been instant for a while
The technical capability for instant SEPA transfers already exists (and has existed for a while), this is about making it free for everyone (some banks charge an extra fee for instant transfers).
I do not understand how I can transfere money instantly theogu an app but the bank needs a few days to do so (unless I pay a fee for instant transfere). I can’t imagine it costing the more to transfere my money now than have it done during the night
