alt Hacker NewsPretty wild. Australia's had NPP since 2018. You can send money to somebody's phone number and it's in their bank account instantly.
https://www.rba.gov.au/payments-and-infrastructure/new-payme...
Replies
cavisne • today at 7:41 PM
Has it actually helped anything? B2C is still all credit card or (due to some weird regulation) cash because of the credit card fees being passed on.
lazyasciiart • today at 7:54 PM
Even before that Australia had bank transfers, the US had Paypal and now Zelle.
For nearly 20 years the UK has had "faster payments", free instant transfers, now up to £1m, and while you can't send to a phone number, the routing numbers needed can't be used to withdraw so are generally safe to give to people.