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I think most/many banks had their own nfc tap-to-pay solution before Google/Apple Pay came along. Any idea why the banks chose to give that up?
Because it cost money to develop and Google/Apple Pay works really, really well everywhere on the planet.
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Sepa-inst requires 10 seconds or less end to end, this isn’t as easy as it sounds to implement, but we are kind of there. The problem is how do you initiate this payment? Some kind of scannable code or nfc interaction seems to be the missing part. I’d also like to see some kind of physical card also work for those who don’t want or are unable to have an attestable device with them.
I‘d love if every receipt had an EPC QR code on it: https://en.wikipedia.org/wiki/EPC_QR_code You scan it with your banking app and have all the details. But it’s not super seamless. If you find this code on a website on your phone, you have to screenshot the code and load it in the app. Would be nice if there was some kind of deep-link standard.
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Aren’t your problems solved by carrying a bit of plastic issues by your bank? Why isn’t that enough?
We really should try to understand your mentality, if only to understand why after 27 years the EU still doesn't have a PayPal alternative.
The device called "Smartphone" is only used to collect every possible detail about your life. The smart thing on a "Smartphone" is that, besides your bank, a lot of other "vendors" have access (not only) to your financial information.
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Because we don’t need it. The US banking system for example is fairly archaic. Where I live, paper checks went extinct about 30 years ago. Now with SEPA, bank transfers are cheap (cents), fast (seconds) and easy (IBAN). If our banking system would not be as convenient, I’m pretty sure something like PayPal would have been very popular.
So is it really just that simple? A lack of understanding what Paypal even is?
Your account is from 2021. There were a lot of "Paypal locked my account and all my money is in there" stories at least 10 years before that year.
So YMMV.
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> Usually that means scanning a QR code with your bank app on your smartphone where you confirm the amount and recipient, but you can use a physical card reader with your debit card for an OTP This seems to be mobile-centric system that essentially requires a cell phone, and probably one blessed by Google or Apple. The app will probably leak a huge amount of meta data, far more than a credit card (especially a privac…
Did you miss the whole part where op talks about using your physical card as an alternative?
KYC, proprietary, part of a broader strategy of having Europeans rely more on banks and digital id: https://epicompany.eu/
I'll pass.
If you moved sats (you know, Satoshis, smaller unit of Bitcoin) using Lightning within seconds without a bank account, this is nothing but a joke. KYC, proprietary, part of a broader strategy of having Europeans rely more on banks and digital id: https://epicompany.eu/ I'll pass.
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I do not understand your comments
If you can't be bothered to spend 10 seconds asking Google or your favorite LLM, I'm not sure why you come here to comment on the topic. In most cases, you can't pay a merchant using a bank transfer. Businesses and consumers need payment systems. This is not particularly hard to grasp.