Most of those negatives sound fine to me.

Yeah, like what’s wrong with cash?

America doesn’t really have a functional system for this yet either. It’s a lot easier to just tap your phone on a brick and be done with it, but currently the tap method is pretty hit or miss. And bank transfers are atrocious - why do we pay venmo to do something that Korean banks just straight up do for everyone? In Korea you can just give someone your deposit number and with a couple buttons you send money easily/instantly.

You don’t even have to go that far, Canada has interac e-transfers where you can send money by email. Directly accessible through the standard bank app/site. I haven’t handled cash in years

In Australia you can send money bank to bank for free, with practically instant transfers (though large amounts and first transfers from you to someone get a 24hr hold)

And you can use the person’s phone number as the transaction target (instead of bank branch number and account number)

It’s pretty nice, good for small business too, especially trades

Re: Australia: be aware that all normal bank to bank transfers are still min 1 working day transfer. Its FAST and Osko which bypass that with their own new network (up to $1000).

Not every bank is with Osko or FAST, and some are with one and not the other. Though I think FAST is fading away with Osko being dominant.

Re: phone number: or email address! It’s great, especially if you have your own domain name. You can make different PayID email addresses for each account you have if you want.