For those who doesn't know, here in Scandinavia all the banks have come together to make an app called Swish on all mobile platforms. What it does is you just type in the phone number and the amount and it'll be directly transferred to the recipient. Before Swish was a thing in Scandinavia you had to wait for the banks to transfer the money to the recipient which would take 5 to 24h which was a pain when you wanted to transfer money to a child or a friend who was in dire need for cash.
It made it even easier to transfer money to someone just because it uses the phone number which you have in the contact list, instead of remembering the bank ID.
Now everything uses Swish here in Sweden. Stores, restaurants and bills. I still don't understand how the rest of the world could not live without it. But Sweden's goal is to remove all kind of cash in 4-5 years so this was an important step.
To my question, why doesn't the whole world use something like this? For me atleast it was a life changing moment.
EDIT: TIL that I was way off
It made it even easier to transfer money to someone just because it uses the phone number which you have in the contact list, instead of remembering the bank ID.
Now everything uses Swish here in Sweden. Stores, restaurants and bills. I still don't understand how the rest of the world could not live without it. But Sweden's goal is to remove all kind of cash in 4-5 years so this was an important step.
To my question, why doesn't the whole world use something like this? For me atleast it was a life changing moment.
EDIT: TIL that I was way off
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