Earlier quoted context omitted.
In the UK if I want to send someone money to anyone in the UK I open the mobile app and input their sort and account number, type in the amount of money and hit send. Done. Similarly in the NL if I want to send someone money to anyone in the EuroZone I open my bank app type in their IBAN type in the amount of money and hit send. Done. Back in 2017 when I lived in the US this just wasn't possible. If I wanted to send…
> In the UK if I want to send someone money to anyone in the UK I open the mobile app and input their sort and account number, type in the amount of money and hit send. Done. Apple / Google Pay? this isn’t as complicated as you’re trying to make it out to be. get a number, find out if they’re google or apple, use the appropriate app. This has been possible for years now.
I guess my point is: in Europe sending money from one person to another is easy and easily done with no third parties. All I need to know is the other person's account info, access to my own account either by app or website, and done. Almost instant transfers between people.
In the US a third party is required. Be that Paypal, Apple/Google Pay (I didn't know they had launched this as a thing for person-to-person), square, facebook, etc. Not only does it require a third party it requires two people to be using the same third party.
My mother-in-law is fairly technophobic. She doesn't do online banking, doesn't use apps, etc etc. Yet despite that I can still send her money without an issue, because the infrastructure is basically universal. Unless they are doing something very strange anyone who has an account can receive money. Plumber comes over to fix a pipe, send him some money digitally, buying a car, send some money, etc etc.