Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

Europe's $24T Breakup with Visa and Mastercard Has Begun

europeanbusinessmagazine.com

Post reply on HN
Print view View original

771–780 of 1001 posts

Re: Europe's $24T Breakup with Visa and Mastercard Has Begun

#771

Post by joe_mamba »

pjc50 wrote: post #761
joe_mamba wrote: post #759

Earlier quoted context omitted.

>Moreau is apparently a Russian citizen living in Russia since 2013. Is he not still a French born citizen deserving of a fair trial? Or should getting a dual citizenship of a foreign passport, of a nation that later becomes an adversary, become an automatic death sentence? US should then put all it citizens with Cuban and Iranian passports in jail with that logic. And then what about Jacques BAUD who's Swiss living…

This isn't a death sentence? But they probably do deserve legal redress. And jail sentences.

>This isn't a death sentence?

Being sanctioned means no bank will touch you, meaning no employer and landlord will touch you, meaning you don't get a national insurance health card to receive healthcare, and you'll be homeless and begging for food.

How is taking away all of someone's means to survive NOT a death sentence?

Re: Europe's $24T Breakup with Visa and Mastercard Has Begun

#772

Post by distances »

tjwebbnorfolk wrote: post #605
whynotmaybe wrote: post #248

Earlier quoted context omitted.

What does Belgium's capital has to do with this? Do you imply Brussels = European Union?

This literary device is so common it has a name: synecdoche. e.g. "The pentagon" to refer to the US military. Now we just need a word for performative dense-ness.

I would not assume denseness -- many/most languages do not have this habit of referring to the capital. So it can easily sound weird if you aren't that immersed in English news and discussions.

Re: Europe's $24T Breakup with Visa and Mastercard Has Begun

#773

Post by porknbeans00 »

severino wrote: post #135

Whatever they come up with, I hope it doesn't tie you to a Google or Apple smartphone. Can't we have cards for this? In Spain, for example, to use Bizum, you need either an Android/iOS smartphone (and for the Android case, as you use it from your bank's app, it would typically require some Google security assurances - so no Huawei phones allowed, for example) or logging into your bank's website and use Bizum from the…

So... there once was a company called First data. Founded by some JPMC execs who got chased out of the bank after being caught performing espionage for Palantir.

They sold their transaction platform as a service to Apple Pay. And funneled all your transaction data to palantir.

Financial networks are side channels for intelligence gathering. And that makes the folks doing them outside of your nation an adversary.

With the US choosing to become an enemy of western democracy in Europe, the need for more investment in building trusted core infrastructure is inevitable.

Certainly none of this is ever simple. But this is just a microcosm of a much larger shift across many industries in Europe and we as tech nerds should be mindful of the tectonic shifts that are happening currently. The capital investments occurring have serious long term implications for us all.

Re: Europe's $24T Breakup with Visa and Mastercard Has Begun

#774

Post by fransje26 »

skywal_l wrote: post #424
port11 wrote: post #420

Earlier quoted context omitted.

I don’t see why they can’t just piggyback on existing, proven solutions such as Bancontact, Carte Bleu, etc., which are all based on a card running on its own network. If it’s app-based, we’re excluding quite some citizens from it.

Visa bought Carte Bleue in 2011. Yep.

Nice... /s

I thought Carte Bleue no longer existed?

Re: Europe's $24T Breakup with Visa and Mastercard Has Begun

#775

Post by tuetuopay »

tlogan wrote: post #569
tuetuopay wrote: post #552

Earlier quoted context omitted.

And I thing the misunderstanding here is that Europeans don't really use credit cards: we use the term "credit card" when we should use "debit card", but that's language for you. Literally, you have to go out of your way to get an actual credit card instead of the ubiquitous debit card everybody has. And in Europe, when people hear Mastercard or Visa, they just associate the name with refused payments at points of sa…

I really cannot imagine a world without credit cards. How do you buy Christmas presents, everything in cash? I am half joking. But that might be one reason why business ideas from the US do not always translate well to Europe, and vice versa.

Well, yes, we pay "cash" in the sense we pay direct debit. So literally the same as you, we tap the card. Except we don't have to keep track of the credit balance at the end of the month: money's taken directly from the account. The bank app shows you have enough? You're set.

As to how, in the financial term: we europeans don't really have the credit culture the US has. Having a credit is something very last resort, especially for "trivial" stuff (e.g. christmas shopping, to keep your example). Most europeans will have one or two credits tops: real estate loan, and sometimes car loan. Companies (mostly US) start offering payments spread over multiple months, but it does not really have a high penetration (at least in France), being in small useless debts is something we avoid like the plague.

And how do we have enough money in the bank? We just shop after payday, not after. Or, for most people, we keep a somewhat constant amount in the daily account. It's just another way of managing your own money.

Re: Europe's $24T Breakup with Visa and Mastercard Has Begun

#776

Post by a-french-anon »

pyrale wrote: post #712
friendzis wrote: post #685

Earlier quoted context omitted.

> What are the odds they're using this on-shore tech grab to implement their own domestic version of China's social credit score system, to easily get data on their own citizens who commit "wrong-think", without having to through the effort to twist the arm of US entities every time they want to do that? What are the odds that once shut down "chat control" will come up under a new name?

> without having to through the effort to twist the arm of US entities every time they want to do that? Right now, it's more like US corpos are try to twist the arm of EU governments [1][2], pushing heavy propaganda to manipulate our elections [3], allying with the US government to do so. And the US government has been threatening EU govts with invasion [4], leveraging US corpos to harm lawful individuals doing their…

Read your third link, please. The Ministry of Truth not being happy that their policy on "disinformation" isn't being applied as strongly as they wish isn't what I'd call "pushing heavy propaganda".

Re: Europe's $24T Breakup with Visa and Mastercard Has Begun

#777

Post by donkeybeer »

Saline9515 wrote: post #576
notrealyme123 wrote: post #440

Earlier quoted context omitted.

How about tap water has to be drinkable in every EU country

Many non-eu countries have drinkable tap water, not sure how representative of "integration" this rule is.

And many non eu don't have. I am neutral on the eu topic but you are confused. If this eu thing can mandate certain water standards or expel a country and or withhold common funds, that's a very different thing from seeing "some" non eu countries having water.

Re: Europe's $24T Breakup with Visa and Mastercard Has Begun

#778

Post by joe_mamba »

a-french-anon wrote: post #776
pyrale wrote: post #712

Earlier quoted context omitted.

> without having to through the effort to twist the arm of US entities every time they want to do that? Right now, it's more like US corpos are try to twist the arm of EU governments [1][2], pushing heavy propaganda to manipulate our elections [3], allying with the US government to do so. And the US government has been threatening EU govts with invasion [4], leveraging US corpos to harm lawful individuals doing their…

Read your third link, please. The Ministry of Truth not being happy that their policy on "disinformation" isn't being applied as strongly as they wish isn't what I'd call "pushing heavy propaganda".

Yep. Color me shocked that the propaganda state media is unhappy with information being spread that doesn't conform to the views of the state, and so calls it propaganda or mis-/dis-information.

It's totally not the "ministry of truth".

Re: Europe's $24T Breakup with Visa and Mastercard Has Begun

#779

Post by usrusr »

bjghknggkk wrote: post #176
pjmlp wrote: post #164

Earlier quoted context omitted.

On Portugal we have the Multibanco network, which already provided Internet like services for buying stuff on the terminals and eventually graduated to have online payments as well, however only in Portugal. Likewise, in Germany we can have SEPA for most stuff. And in Greece there is Viva. Problem is getting something that actually works across all European countries.

Show me a german webshop that supports modern payment methods. It usually old school bank transfers still.

You must frequent a very interesting subset of German web shops then. Yes, some do offer bank transfer (many don't because latency is just so terrible), but I've never seen credit card not on the list. Perhaps with the exception of credit card available only through some intermediary like PayPal (which I tend to prefer over direct credit card, I don't really like spreading my CC details to servers of questionable maintenance state than strictly necessary)

Re: Europe's $24T Breakup with Visa and Mastercard Has Begun

#780

Post by em-bee »

bdangubic wrote: post #548
em-bee wrote: post #324

Earlier quoted context omitted.

indeed. my credit card requires me to preload money from my bank account. it's like there is a second account that keeps a balance that i can spend using the credit card. whenever i use it, the balance is updated. how the credit is paid off i don't know. it could be either right away, or the amount is just hidden by my bank until it is time to pay off at the end of the month. either way, the credit limit is zero. so…

that is not a credit card :)

it is what i get when i ask my bank for a credit card. it says credit card on it, and it is what i use when a credit card is called for.

as i said, it is possible that i can actually get a real credit limit on the card, or possibly the bank has other credit card products.

Post reply on HN