The name of the recipient is displayed, and since last October it is also verified against the owner of the receiving bank account. The bank explicitly warns you if they differ. Also, you can't open a bank account anonymously, there is KYC.
You can't dispute or call back SEPA INST payments. But you can't dispute cash payments either. This is just fine for most day-to-day transactions, I don't need insurance when I buy groceries or pay the taxi driver.
This. Even online, most transactions I do are with known reputable businesses subject to strict consumer protection laws. I have never in my life had to do a credit card chargeback.
You can't dispute or call back SEPA INST payments. But you can't dispute cash payments either. This is just fine for most day-to-day transactions, I don't need insurance when I buy groceries or pay the taxi driver.