[zabaki]

Actually just read a few talks by danes in the financial council in Denmark. They are currently reconstructing the entire payment infrastructure to allows realtime transfers of payments. For payments under $100.000, transfers are done three times a day, as is seen with services such as MobilePay (Venmo wannabe) that i believe are considered a e-money institution. If anyone is interested then i can provide the links to the slides. They are, however, in danish.

[unfunco]

Not to sound pedantic, but three times a day is not realtime. In the United Kingdom at least, transferring money from one bank account to another at the same bank is instant (pretty much sub-second) transaction and from one bank account to another at a different bank is generally processed within fifteen minutes, nearly all UK banks support Faster Payments[0].

[0] http://en.wikipedia.org/wiki/Faster_Payments_Service

[zabaki]

Youre right. Real time tranaction is simply what The bankers here in denmark called it. Shows the level of mis-mash between expectations from consumers and the financial sector (in my country at least)