so, I get that shopify brings more to the table than just payment processing. but I'm surprised that nobody here has brought up regular SEPA payments and SEPA direct debits.
Of course they will only currently work in the EU, but fast, reliable, cheap direct transfer systems might be a model other countries could implement. The benefit is that banks (at least in Europe) are quite a bit more regulated than e.g. shopify and random lock-outs like this shouldn't be as common, or at the very least should have clearly defined escalation mechanisms.
In terms of customer protection as well, direct debits are super nice here in EU.
Of course they will only currently work in the EU, but fast, reliable, cheap direct transfer systems might be a model other countries could implement. The benefit is that banks (at least in Europe) are quite a bit more regulated than e.g. shopify and random lock-outs like this shouldn't be as common, or at the very least should have clearly defined escalation mechanisms.
In terms of customer protection as well, direct debits are super nice here in EU.