this post was submitted on 01 Nov 2023
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It’s absolutely a monopoly and while there are several banks involved, there’s still a common organization behind it. When were you last able to buy apples from a farmer with PayPal?
A farmer's a business, though. You can pay all contactless businesses with Apple/Google pay or Revolut.
For P2P payments there's always Revolut and Paypal, both let you send money to people that don't have accounts (unlike Twint).
Mostly there’s just a Twint QR code. At our school, it’s the only option to pay other than cash.