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The Rise of Whatever

(eev.ee)
628 points cratermoon | 2 comments | 04 Jul 25 04:48 UTC | HN request time: 0.001s | source
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dalemhurley ◴[04 Jul 25 07:29 UTC] No.44462040[source]▶
> "live in some futuristic utopia like the EU where banks consider "send money to people" to be core functionality. But here in the good ol' U S of A, where material progress requires significant amounts of kicking and screaming, you had PayPal."

I remember when PayPal came to Australia, I was so confused by it as I could just send money via internet banking. Then they tried to lobby the government to make our banking system worse so they could compete, much like Uber.

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zpeti ◴[04 Jul 25 07:45 UTC] No.44462157[source]▶
I don't get this sentence. It's pretty damn hard sending money in the EU too. We only had SWIFT and CHAPS too like in the USA. The EU isn't some banking haven with ultrafast transfers. If they are talking about the new legislation about fast transfers (SEPA), that came 1 decade after paypal.
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elric ◴[04 Jul 25 08:14 UTC] No.44462339[source]▶
What do you mean? Europe has had SEPA payments pretty much since the Euro came out. And most of Europe had functional bank transfers using online banking (including international ones) long before the Euro was a thing.

Edit: Do you mean that the speed of the transfers was the problem?

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1. qsort ◴[04 Jul 25 08:19 UTC] No.44462374[source]▶
SPC Inst transfers up to 15,000EUR take 10 seconds, literally.
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2. elric ◴[04 Jul 25 08:20 UTC] No.44462383[source]▶
I'm aware, but I think zpeti was saying that this is a recent thing, whereas fast PP payments were already a thing ages ago.