Nothing will ever be the same again –

Nowadays, electronic payments have become an integral part of the economy, and are used by millions and millions of users around the world.

With credit cards (or perhaps debit cards), it is very easy to make an electronic payment, unlike cash which is much more troublesome.

However, in the past few hours, some new updates on this topic have arrived from the European Union. Europe’s intention, in fact, is to return once again to change the legislation that regulates to the smallest detail the movements of money, as well as online payments (for any e-commerce site or for the transition between users, as happens on eBay ).

will European Commission It is the push towards spreading Instant Transferswhich does not require working times for implementation unlike the traditional times that we always know so far.

According to the Commission itself, in fact, every European citizen should have the extension The ability to transfer money at any time, even on holidays, without any problems. In fact, it is common to have the problem of transfers being “frozen” over the weekend, only to be counted the next day, on Monday. So the commission put forward a legislative proposal with the ultimate goal of favoring the use of instant credit transfers, rather than traditional transfers.

Differences between bank transfers

For those who may not be aware, teleports have a very different process than traditional ones. First of all, the difference, as mentioned earlier, lies in Processing times: For a traditional bank transfer, it takes 2-3 business days to calculate it, while in the case of instant bank transfers, the transaction will be practically instant the moment we click. In fact, today’s traditional bank transfers are a very common problem, with about 200 billion euros still withheld over the weekend, without the end-user being able to use them, and thus defined as a “payment float”.

An instant transfer, unlike it, takes only about ten seconds, thanks to all the home banking systems that almost all banks nowadays guarantee, even directly from your phone.

At this point, we just have to know what new directives will arrive in the next few weeks or months from the EU, with confidence in the modernization of the entire economic structure, for the benefit of the end user.