In that podcast, they show money being transferred between UK bank accounts in a matter of seconds - which makes me wonder about some of the comments on HN re: the Amazon system not being offered in Europe.
There must be differences between a fast money transfer system and a payment system?
There was some speculation at the end regarding the lack of upgrade of the ACH system, and that large banks might not want competition with fees from other money transfer methods (e.g. wire tfrs).
http://www.npr.org/blogs/money/2013/10/04/229224964/episode-...
In that podcast, they show money being transferred between UK bank accounts in a matter of seconds - which makes me wonder about some of the comments on HN re: the Amazon system not being offered in Europe.
There must be differences between a fast money transfer system and a payment system?
There was some speculation at the end regarding the lack of upgrade of the ACH system, and that large banks might not want competition with fees from other money transfer methods (e.g. wire tfrs).