It’s crap in comparison. It’s not flexible at all. It’s still SEPA even though it’s “instant” and not all banks support it yet (although they are supposed to).

▲

toomuchtodo 4 days ago | parent | next [-]

October 2025 is the deadline for all banks to support the instant part, and I don't understand your complaint that it's instant but "still SEPA." That's good! It's a utility that just works. You can always bolt trimmings on at the institutional level. What are your expectations for what it should be?

▲

aosaigh a day ago | parent | prev | next [-]

What do you mean it's not flexible? I've always thought of the EU as being way ahead of the US in banking terms, with lots of digital banks offering instant payments and all EU banks offering SEPA instant transfers. I'm interested to hear about these other platforms outside of the EU/US and how they are innovating.

▲

alexalx666 a day ago | parent | prev | next [-]

N26 execs instant payments reliably in Germany

▲

MilaM a day ago | parent | prev [-]

SEPA is not crap. It's actually pretty awesome, considering that you can instantly transfer money between 5000+ banks in 30+ countries, with practically zero fees.

The UX of SEPA is lacking in comparison to other modern payment systems for sure. I'm confident though, that it will improve soon. Wero [1] seems like a decent start and appears to be gaining traction lately. It's basically a layer on top of SEPA Instant payment with extra features and a decent app based UI/UX.

[1] https://en.wikipedia.org/wiki/Wero_(payment)

▲

SomeUserName432 a day ago | parent | next [-]

> with practically zero fees

We pay 2.50 EUR for a SEPA transfer, it's ridiculously expensive.

We need local integrations for every market to cut costs.

	▲	pavlov a day ago \| parent \| next [-]
		Where in Europe are you getting charged that much? Usually SEPA payments are completely free for consumers. And I believe there’s a EU-mandated fee cap which is much less than 2.50 €. But if you have a business account, things are different.
	▲	MilaM a day ago \| parent \| prev [-]
		That is pretty expensive, I agree. I pay zero additional fees when using my private account. For my business account I'm charged ~30 Cents flat per transaction. I know that there are banks offering better terms, but I'm too lazy to switch for just a couple of Euros in savings.

▲

jjcob a day ago | parent | prev [-]

In austria QR codes for sharing payment info are getting popular. Many invoices have a QR code on them. You can then use your banking app to pay the invoice.

Banking apps can also generate a QR code for receiving payments.

They are not quite as seamless as tap-to-pay, but they work with pretty much every bank in the Austria, which is neat.