However, it's not just about one country, this is (also) about 27 countries and the payment between them.
Imagine being able to pay that quickly to your economically challenged neighbor (Argentina)?
Imagine being able to pay that quickly to your economically challenged neighbor (Argentina)?
https://g1.globo.com/economia/noticia/2023/07/16/pix-tipo-ex...
But there have been some noises in the direction of expanding regular service through Latin America. India's UPI also seems to be internationalizing. And there's FedNow in the US that is probably going to get automatically popular just for being from the US. Wonder if we're going to end up with a bunch of incompatible systems around the world or what.
"Euro Transfer" as in SEPA means that the currency of the transfer is set to EUR and that currency exchange is not part of the transfer itself (it can be done at originating or retrieving bank when the account involved is not in EUR, but the transfer itself has to be denominated in EUR at entry and exit from SEPA system)
"There are 36 countries in the SEPA area." https://www.revenue.ie/en/starting-a-business/documents/guid...