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by jiehong 1097 days ago
I think the future is to never fill-in your cards info anymore, and maybe not even have a card at all.

Once you start using something with a QR Code, it's much much better:

- WeChat Pay and co. (in China);

- PhonePe and co (in India);

You usually have 2 ways to pay with those systems (only systems I'm familiar with, others might be different):

- Merchand shows a QR Code; you scan it and enter the right amount manually. Merchand gets a confirmation.

- Merchand shows a QR Code; you scan it but the amount and details are all pre-filled and you just have to confirm.

In both cases, it's scan + click ok.

Now, if worldwide banks in the world were to have a way to send money to each other without fees and with a single standard, they could make it happen (one can hope).

1 comments

Is it possible to have recurring payments with the QR pay solutions you mentioned? There are probably a lot of use cases, for example for a gym membership, etc.
Yes. I pay for Netflix via UPI e-mandates. The best part of UPI subscriptions is that I can cancel them whenever without going to the merchant's website.

In Netherlands, iDEAL comes close to UPI as well.