undefined | Better HN

0 pointscrossroadsguy2mo ago0 comments

They should just do on the lines of what India has been doing with UPI and Brazil with Pix. Both massively successful at this point. Of course take their good parts.

By the way, since you wondered, it seems to be

> built around the digital wallet Wero

and wikipedia says its a mobile payments method. I hope not. I hope it's rather an interface/spec.

(On a side note, I also hope individual countries of EU ensure that those spec leaves an ability for them to continue internally or even externally if rest of the EU decide to cut someone off or so.)

0 comments

hocuspocus2mo ago

EPI is the interface and it's built upon SEPA and TARGET standards.

Wero is the implementation. I think it makes sense to provide a turnkey solution to all participating banks, so that we don't have 100+ versions of the same app.

Countries that don't want to trust EPI (or simply outside the Eurozone) are able to take the same path as Bizum in Spain, and make their domestic solution interoperate with EPI instead of replacing it.

kassner2mo ago

> Brazil with Pix

Are you aware of any banks that don’t require you to use their Android/iOS app to use PIX? I’ve had accesss to maybe a dozen banks and none had that ability. Sometimes you get via web, but needs their app’s 2FA to log in.

dj0k3r2mo ago

> Of course take their good parts.

I completely agree. Sadly UPI is now almost completely dependant on platform integrity ( google and apple).

vee-kay2mo ago

You need to research better before forming and sharing wrong opinions about world's most popular payments system: UPI.

UPI will work even without a smartphone, it will work on even with a basic feature phone, using USSD codes! That's called UPI 123PAY.

https://www.msn.com/en-in/money/news/upi-without-smartphone-...

This feature allows rural populations, poor people, small merchants, etc., to send and receive UPI payments, even without a smartphone.

So UPI has no dependency on Google or Apple, it can work on any basic phone that supports USSD codes feature!

SanjayMehta2mo ago

A key patent on this is held by a friend of mine. He tried to monetise this tech way before operators were ready.

I forget what the company was called, m-pay or something like that.

j / k navigate · click thread line to collapse