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Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

lesnumeriques.com

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Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#51

Post by ramon156 »

mcv wrote: post #43

Wero is basically an EU-wide version of the Dutch iDeal system, which in my opinion is the gold standard of how internet payment should work. I shouldn't have to fill in any card numbers on the site of the merchant (which is unsafe). Instead, the payment should redirect me to my bank, where I authorize the payment through my own bank's security system. I've always been annoyed by the need to type in sensitive card in…

I think any dutchie can vouch that iDeal has been amazing. I would also like to add that Wise has been amazing for american payments. I needed it for Anthropic at the time, and this worked good enough

Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#52

Post by fontain »

atonse wrote: post #30
petcat wrote: post #13

> A Frenchman using Wero will be able to transfer money to a Spanish friend on Bizum, with the same simplicity as a domestic payment. Have you seen the new money app? It's on Tubu. It's on Weeno. I'm on Dippy but my friend is on Poob. Poob has it for you.

LOL thank you domain squatters. I can't think of any other reason why startups often always have the most ridiculous names.

Every single 3 and 4 letter .com domain has been registered for at least 20 years, not a single one is available to register. Domains aren’t the reason for names like “wiro” and “tubi”.

Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#53

Post by mcv »

timpera wrote: post #12
JumpCrisscross wrote: post #3

Banks in Spain, Italy and Portugal are joining what this article describes as France’s Wero system [1]. («L'initiative française Wero».) Focus this year is on P2P transfers. Commerce is targeted for 2027. Given EuroPA has done a token amount of transactions to date, I’m not sure anyone should hold their breaths. [1] https://en.wikipedia.org/wiki/Wero_(payment)

Wero is not French, but it has replaced France's Paylib. It's pretty awesome and seems to quickly have replaced all other apps (Lydia, PayPal) for small payments in my friend and family circles. I'm excited to see it expand to PoS payments.

From what I understand, Wero is identical to iDeal, which has been the standard Dutch internet payment system for decades. So I'm a bit surprised to see France claim ownership.

Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#54

Post by reddalo »

epolanski wrote: post #32
reddalo wrote: post #6

Too bad that, for Italy, BancomatPay joined instead of Satispay, an app that's actually used (especially in the North). Almost nobody uses BancomatPay.

Satispay is no longer really used anymore. It was only welcomed by merchants in the 0-fee era, now no merchant cares anymore as Satispay is no longer free of charge and pulled the rug. And to send payments across friends there's instant bank wires (often free of charge), and even when it's not instant it is executed in few hours-one working day max which isn't a big issue when you're transferring money across friends…

> And to send payments across friends there's instant bank wires

That's nice (when it's free), but banking apps are clunky, unfriendly, heavy and slow. Unicredit and Intesa, two main Italian banks, both have apps that are atrocious to use and riddled with annoyances.

People want an easy and quick way to send/receive money (Satispay does that almost well).

And for some banks Wero seems like it's going to be available through your existing bank app. Which is a no-go for me.

Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#55

Post by outout14 »

DalasNoin wrote: post #25
timpera wrote: post #12

Earlier quoted context omitted.

Wero is not French, but it has replaced France's Paylib. It's pretty awesome and seems to quickly have replaced all other apps (Lydia, PayPal) for small payments in my friend and family circles. I'm excited to see it expand to PoS payments.

Can you confirm people in france actually use wero? I had heard of it every so often but basically zero people actually use it, my revolut app has a feature to use wero but never used it. I mean would be great, getting rid of CC fees could literally lower grocery prices by 1-2%.

[dead]

Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#56

Post by nemomarx »

echelon wrote: post #50
fontain wrote: post #26

Earlier quoted context omitted.

I’m 50. All startup news looks like this: “Payments via Zoosha? K-smog and Batboy launch new startup.”

It's better than that trend of taking English words and removing the final vowels before "r" or some other consonant.

I'm not actually sure Wubi and Tubu are better than something like Cashr tbh

Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#57

Post by criddell »

gsky wrote: post #4

I'm pretty sure American gov won't react kindly

I wouldn't be so sure, at least not this administration. Fragmented monetary systems provide more opportunities for creative accountants and that's something the people running everything in the US seem to benefit from.

Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#58

Post by Keyframe »

Shalomboy wrote: post #45

I'm legitimately curious how these American payment companies held onto their worldwide dominance for so long. I'm used to seeing the sign at restaurants of all the other cards they accept, but for so long I've only ever seen Amex, Discover, Visa, and Mastercard in folks' hands.

geopolitics, dollar, and then network effect. in that order.

Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#59

Post by mcv »

mytailorisrich wrote: post #38
JumpCrisscross wrote: post #3

Banks in Spain, Italy and Portugal are joining what this article describes as France’s Wero system [1]. («L'initiative française Wero».) Focus this year is on P2P transfers. Commerce is targeted for 2027. Given EuroPA has done a token amount of transactions to date, I’m not sure anyone should hold their breaths. [1] https://en.wikipedia.org/wiki/Wero_(payment)

What's the benefit of this over contactless payments?

It works over the internet.

Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#60

Post by cfontes »

mcv wrote: post #43

Wero is basically an EU-wide version of the Dutch iDeal system, which in my opinion is the gold standard of how internet payment should work. I shouldn't have to fill in any card numbers on the site of the merchant (which is unsafe). Instead, the payment should redirect me to my bank, where I authorize the payment through my own bank's security system. I've always been annoyed by the need to type in sensitive card in…

PIX from Brazil is even better, to be honest. But this is a big improvement over online CC payment.

I lived in the NL and Brazil, so I can compare the two, and while iDEAL is pretty good, PIX is easier to understand, explain, and deal with.

PIX has more variants, you can use it for recurrent payment, split payments, financing, cashout and almost all things a CC can do nowadays.

I would say Tikkie is almost as good and easy to use as PIX usecase wise but has less adoption and variants, also it belongs to ABN which is completely different from PIX approach.

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