[spockz]

Pretty much was already available via SEPA. We had a similar system in the Netherlands called ideal which has now been subsumed by Wero to join an European alternative. In the end the idea is simple. All participating bank accounts have lorum/nostrum accounts for the pairs. Whenever the Wero transaction succeeds the money is wired internally directly. I’m not sure whether this mechanism will be replaced by SEPA direct debit entirely.

[paduc]

I believe Wero is based on SEPA instant transfers. It just facilitates transfers by using emails, phone numbers or QR codes instead of IBANs.