alt Hacker News> because EU throws regulatory obstacles at every step.
No, the gatekeeping is done by local banks and governments to protect their oligopolies/cartels.
There are many instant-pay apps across Europe and they are intentionally not interoperable outside of local markets. Each local banking oligopoly is trying to fence off competition. The main fear is from smaller neo-banks.
>>No, the gatekeeping is done by local banks and governments to protect their oligopolies/cartels.
If you are pointing the distinction between gatekeeping at the EU level and country level I am not contesting that. It's clear though that the gatekeeping is the problem here (and in many other industries in EU).