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Joined 1 year ago
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Cake day: June 30th, 2023

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  • We have a fee-free bank-to-bank transfer system that is based on pre-digital technology that takes 2-3 business days. We often call it “direct deposit” or automated clearing house (ACH).

    Ah, right, kinda like SEPA Credit Transfer. You do need a persons IBAN which is a bit long, but their name is validated so you usually send it to the right person.

    Now, we could probably make this payment system instantaneous relatively effortlessly

    Ooh, cool, kinda like SEPA Instant Credit Transfer, which transfers money within ten seconds to bank accounts using the above mentioned number.

    This is all fine and dandy for most people because they simply can’t imagine doing things a more consumer-friendly way

    And that’s why, in the Netherlands, Tikkie took the country by storm. It is an app that allows you to use iDEAL (a web-based payment system, soon rolled out in Germany and Belgium as Vero) to send money to friends. Usually takes one pin and three taps to send it, and have it instantly appear on the account of the recipient.