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Bank transfers as a payment method

bitsaboutmoney.com · 3,926 words · saved by 1 readers

Bank transfers have exploded as a payment method in India and may become more common in much of the world.

Bank transfers as a payment method Patrick McKenzie (patio11) • Nov 26th, 2021 Most transfers of money in the economy are made via bank-to-bank transactions. Most payments are currently not. There is substantial innovation happening in bank transfers, especially outside the U.S., and they will be a larger portion of the payment mix in a few years. It’s worth understanding why, and why it hasn’t already happened. What is a payment, anyway? Stripped to its fundamentals: a payment is a message, with new information, about a debt, with a certain confidence level associated with it. This is no

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