P2P Payments. Was: How do bank payments actually work?

On 2016-01-21 00:03, Melvin Carvalho wrote:
> Interesting post on the inter ledger element of banking.
>
> https://getmondo.co.uk/blog/2016/01/20/how-do-bank-payments-work/

A counterpart to "Paym" in Sweden called "Swish" have more users than
they UK system.  I believe one reason for that is that it is based on
Mobile BankID which also allows you to login to any of the member banks
you have an account in as well as using it for public sector access.

Apple and Google have had zero success with their schemes in Sweden since
they only compete with a thing a people already have (payment cards), not
to mention the fact that Apple, Android, Samsung-pay can't be used for
Web payments which means that you can't retire your payment cards (yet).

P2P payments OTOH, give you a new function which doesn't have any counterpart
except paper-checks but these are really a PITA.  France, (my new country),
still cling to this costly and inconvenient system.

Anders

>
> Im thinking of simulating this on a testnet for people to play around

Received on Thursday, 21 January 2016 05:55:59 UTC