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Commission proposes to accelerate the rollout of instant payments in euro

ec.europa.eu

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Re: Commission proposes to accelerate the rollout of instant payments in euro

#111

Post by samjmck »

DocTomoe wrote: post #98
samjmck wrote: post #85

Earlier quoted context omitted.

> By now, the market has other, more internationally accepted modes of payment. Hundreds of millions of citizens gain access to instant payments through SEPA. It’s already compatible with the existing banking system Europeans are already used to, i.e. share an IBAN with someone and share money. Which other cheap instant payment methods are there that are available to so many people?

Payment/Debit cards, which work worldwide, and often are given out by the same European banks to use in supermarkets and at ATMs.

Well yeah, but bank transfers serve a fairly different purpose than debit cards.

Re: Commission proposes to accelerate the rollout of instant payments in euro

#112

Post by CoUHKT57BSe »

em500 wrote: post #96
CoUHKT57BSe wrote: post #83

Earlier quoted context omitted.

1. I am European (Irish) and I am constantly being told not to give out bank details. I don't mean people are always telling me that, but when ever there is information about being safe and avoiding scams they always say to not give out bank details, and that is info for EU people. There are many examples online. 2. I was replying to a message, and in that message the user gave the example that at a farmers market so…

1. With bank details I mean name+act number. Of course we are also being told not to share login details etc. But here in the Netherlands tiny businesses and individuals do not hesitate giving you their account number if they expect payments from you. Giving your bank account was the defacto way to receive payments before moving to instant payment links. It still is for most businesses, even tiny ones like farmers an…

Yes I understand what everyone is saying, that giving out the account number is not dangerous in itself and that businesses all over the world do it so they can accept payments, but generally the advice given to individuals is not to give out those details to random strangers (not because they can then take money out of it, but more likely use it for further phishing or whatever). My only point was that the message I originally replied to went totally against this general advice so I couldn't see it being a huge game changer as they had implied.

Re: Commission proposes to accelerate the rollout of instant payments in euro

#114

Post by foobarian »

PaulDavisThe1st wrote: post #90
foobarian wrote: post #84

Earlier quoted context omitted.

So almost like when you have a felony record in the USA?

What impact does this actually have? Can you not get a credit card any more?

You are excluded from most decent jobs and relegated to an underclass.

Re: Commission proposes to accelerate the rollout of instant payments in euro

#115

Post by pif »

ajsnigrutin wrote: post #17
newaccount74 wrote: post #4

This will be huge. This will allow anyone to accept digital payments, eg. at a farmers market, using the bank accounts everyone already has. The only thing missing is forcing banks to provide an API for third party integrations, but I think there is a separate proposal on the way for that. Imagine being able to accept instant payments from everyone in the EU, without having to sign up for a service like Stripe or Pay…

On the other hand, this is another step towards cashless society, where every transaction is tracked by the government.

Not tracked: just trackable.

Re: Commission proposes to accelerate the rollout of instant payments in euro

#116

Post by newaccount74 »

JohnJamesRambo wrote: post #53
prvit wrote: post #33

Earlier quoted context omitted.

If I wire 200k to buy a car, I want that money to arrive instantly. I certainly do not want to spend hours at some parking lot waiting for the money to arrive, I want to sign the papers right there and then and take the car with me. No fucking way I’m gonna leave some random with both the car and my 200k. So instead of sending a bank transfer, I still have to show up with a big bag of cash in 2022 . The amounts where…

I’m curious, what cars are you buying for $200k? Do you mean USD?

Could be 200k SEK or 200k DKK which would be a believable price for a used car.

Re: Commission proposes to accelerate the rollout of instant payments in euro

#117

Post by CoUHKT57BSe »

messe wrote: post #105
CoUHKT57BSe wrote: post #83

Earlier quoted context omitted.

1. I am European (Irish) and I am constantly being told not to give out bank details. I don't mean people are always telling me that, but when ever there is information about being safe and avoiding scams they always say to not give out bank details, and that is info for EU people. There are many examples online. 2. I was replying to a message, and in that message the user gave the example that at a farmers market so…

I'm Irish as well, and your IBAN (bank account number) is not a secret. There's no real harm in giving it out. Hospitals, for example, provide their own IBAN in correspondence for payments via SEPA transfer. You'll find as well that most of your banking apps allow you to save the IBAN of various contacts. I have the IBANs of a few friends and family members saved to my phone that way, and the only thing I can do with…

I use 3 banking apps (PermanentTSB, Revolut and N26) and have never noticed any such feature, which ones have you seen that in?

Re: Commission proposes to accelerate the rollout of instant payments in euro

#118

Post by unity1001 »

nottorp wrote: post #70
ajsnigrutin wrote: post #51

Earlier quoted context omitted.

Oh, you bought booze and chocolates yesterday? You're getting fat and drunk, your health insurance just went up. Oh, you made an inapropriate comment on twitter... no more concerts and movie tickets for you. As said by someone else below, china has a similar system in place, where chinese people with low social scores cannot buy public transportation tickets. And I also don't think the government needs to know you we…

> Oh, you bought booze and chocolates yesterday? You're getting fat and drunk, your health insurance just went up. In the area where this instant payment system will go up, health insurance is universal and government regulated as well :)

> In the area where this instant payment system will go up, health insurance is universal and government regulated as well :)

Except the Eu is slowly privatizing its healthcare with the pressure from the US.

Re: Commission proposes to accelerate the rollout of instant payments in euro

#119

Post by fy20 »

Goz3rr wrote: post #9
hardware2win wrote: post #7

Will it be like Polish BLIK? https://en.wikipedia.org/wiki/Blik Instant payments Money transfers over phone number 2 minutes payment codes that you type on e.g website and accept payment in app Shopping example: https://www.youtube.com/watch?v=hBw1qa07gGU Stats: https://www.youtube.com/watch?v=rDI4R94ZLvM

It's basically a SEPA transfer as they already exist, except instant. I'm not sure how Poland would fit into this exactly as the press release specifically mentions payments in euro, not zloty. Dutch banks have supported instant payments for a couple of years now, and the way person to person payments are most often done is through something called a "Tikkie" which involves sending someone a payment URL (via any mess…

I guess the idea is to have a unified system throughout the EU, so if you are from Germany and you are on holiday in Portugal, you can still do instant transfers to pay in shops.

Re: Commission proposes to accelerate the rollout of instant payments in euro

#120

Post by yohannparis »

catiopatio wrote: post #78
nottorp wrote: post #70

Earlier quoted context omitted.

> Oh, you bought booze and chocolates yesterday? You're getting fat and drunk, your health insurance just went up. In the area where this instant payment system will go up, health insurance is universal and government regulated as well :)

In this context, “universal and government regulated” also means “inescapable and absolute”. Your health insurance might not go up, but you could find procedures being denied if, based on your purchases and behavior, the cost would be a poor investment for society and the state.

In most EU countries offering a Universal healthcare insurance, you have still a private market of insurances for services/products not covered by the government insurance (i.e. glasses, dental, cosmetics, etc.)

If you get denied of a procedures because of previous purchases and behaviour that the government insurance does not want to cover; the private sector will be happy to serve you.

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