• Sanctus@lemmy.world
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      1 year ago

      Its not a bank, the government covers the same service Meta, or Venmo does here with electronic payments from your phone. Its like free wire transfers for everyone. It helps people spend and move money.

      • PeleSpirit@lemmy.world
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        1 year ago

        Doesn’t Canada and a lot of Europe have that? I think Japan has a state bank, but I’m not sure if that’s included. This info is awesome, could you elaborate on who has it or what it’s called so I could look it up?

        • Sanctus@lemmy.world
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          1 year ago

          India’s UPI. I am American, so I have only read about these systems online. I also could be wrong about the intended use case per country. China has one, too. Apparently the Bahamas also has one.