Earlier quoted context omitted.
Do people really transfer that much money between them on a regular basis? Everyone was touting this as the selling point for some of the crypto currencies, but I've always thought this is a non-issue. It's anecdotal but I can count on the fingers of one hand the number of times I needed to transfer money to a person and not to a company.
Yes, in most of Europe it's a primary method of payment for anything people in US would use a cheque for (and most EU countries no longer have cheques at all). It is also often used for online purchases instead of cc, but that varies more per country. This is also how you pay your taxes and how vast majority of b2b payments are done. It's cheap, fast and simple - all you need is a name of account holder and account n…
Re: Australia’s new real-time banking payments platform
#161I think you are misunderstanding. Swish is not traditional online bank transfer. Swish is like sms. You just need the phone number and the transfer is nearly instant. You would normally use it between friends, not for bills, b2b, taxes or paying in the supermarket.