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   AJ Sadauskas (ajsadauskas@social.vivaldi.net)'s status on Tuesday, 12-Nov-2024 08:17:55 JST AJ Sadauskas

   in reply to

   @timrichards @skinnylatte @mekkaokereke Here's a quick explainer for our American friends on how payments work in Australia.

   Let's say I've set up a bank account. When I do, I can link my phone number or email address to my bank account.

   Now, let's Imagine you need to pay me $20, but you use a different bank to me.

   What you would do is open your bank's app and go to the payments tab.

   Then enter my phone number or email and tap transfer.

   That's it.

   No third party payment app needed.

   You don't need to even know which bank I'm with.

   This has been baked into the Australian banking system for the past 6 years now: https://en.m.wikipedia.org/wiki/New_Payments_Platform

   Before that?

   You could still transfer funds from your account to mine using your bank's app.

   You just needed to know either:

   a) My account number and my bank's unique ID number (called a BSB number), or
   b) If I'm a commercial business, my unique payment ID number (called a BPay number).

   Again, all this is a standard part of the banking system here.