The Rise of Whatever

> "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.

In the EU, the value proposition of PayPal is (1) that it it hello instantaneous instead of taking one or two days like a regular bank transfer, and (2) it doesn’t disclose your banking info to the other party. The first one is now finally being obsoleted by SEPA instant payments.