Comment by hocuspocus

> We need instant, free SEPA transfers around the clock.

We have? SCT inst has been rolled out almost everywhere

> Switzerland is not part of SEPA

We definitely are. Transfers in EUR from/to CH IBANs use SEPA rails. CHF accounts can also send or receive EUR transparently (usually at a bad FX rate, but it just works).

> I don't understand what they solve. [...]

> I always say that the day Trump decides to block Visa/MasterCard outside the US is the day we get instant payments and finally get rid of cards.

You answered your own question. We need pan-European payments systems on top of the existing banking infrastructure. Payments and transfers aren't the same thing. By moving to mobile wallets with QR code and NFC payments, this opens up interoperability beyond Europe too.