A 130-million-user payment system backed by 16 major banks just launched to challenge Visa/mastercard

It would be awesome if Canada could do this.

“Every time a European taps a card, pays online or splits a bill with friends, the transaction flows through infrastructure owned and operated by American companies.”

  • excursion22@piefed.caEnglish
    1·
    8 hours ago

    I don’t think etransfer will quite work. It’s far from instant and often relies on the receiving party taking action in the form of accepting the transfer (yeah there’s autodeposit, but you’d still need to verify you received it). Interac is an already established Canadian alternative that’s widely accepted.