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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

#81

Post by sschueller »

cfontes wrote: post #60
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 an…

PIX is also better because it gives control back to the central bank (as it was with cash) and not private industry although they are providing the service. The central bank controls what payments are permitted by what laws exist, not some risk management system that has decided that your legal purchase is too risky or some foreign state has applied sanctions against you.

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

#82

Post by pprotas »

cfontes wrote: post #60
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 an…

Tikkie has a different usecase. It's meant for smaller payments between individuals

In fact, you can pay a Tikkie using iDEAL/Wero

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

#83

Post by debugnik »

kome wrote: post #34
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.

ahahah! so true. those names are silly. also, French and Spanish can already send money for free via IBAN / SEPA

Wero and Bizum mostly just associate phone numbers to IBANs and perform instant SEPA transfers underneath. The benefit is that you only need the other's phone number to send them money, usually already in your contact list, instead of them sharing you a twenty-something digit number.

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

#84

Post by HoldOnAMinute »

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.

Obliteratr

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

#85

Post by [deleted] »

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.

[deleted]

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

#86

Post by Xirdus »

kccqzy wrote: post #64
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…

There is a 3DSecure system for existing Visa, Mastercard, and American Express. After typing your card numbers, the transaction doesn’t immediately go through but you are also redirected to the bank’s system. Banks can ask you to use a hardware token, an app, or any other second factor to approve the transaction. It’s a shame that this system isn’t ubiquitous for the rest of us not in EU.

The problem with 3D Secure is that the merchant can unilaterally decide not to use it, which defeats the whole purpose of 3D Secure.

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

#87

Post by philipallstar »

sschueller wrote: post #81
cfontes wrote: post #60

Earlier quoted context omitted.

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 an…

PIX is also better because it gives control back to the central bank (as it was with cash) and not private industry although they are providing the service. The central bank controls what payments are permitted by what laws exist, not some risk management system that has decided that your legal purchase is too risky or some foreign state has applied sanctions against you.

That sounds a little authoritarian for many Western countries, I imagine.

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

#88

Post by Imustaskforhelp »

cfontes wrote: post #60
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 an…

(I haven't tried PIX so not sure) but UPI is really great too and I think that Pix is similar to UPI and UPI was launched by India nearly 4 years ago than brazil.

Anyways, one of the things that I am interested about in payment systems is say creating cross-payments between Pix,UPI and Wero.

UPI is already there for a few countries and there are more trials which are happening and my brother was a bit involved in trying to add UPI to london. (I think it was some efforts by his college perhaps, I am not sure completely.)

For India, the largest points are remittances and for other nations, it gives a really well built payment system and integrates it to more economies.

UPI is accepted in seven countries: Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and the United Arab Emirates (UAE).

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

#89

Post by cfontes »

pprotas wrote: post #82
cfontes wrote: post #60

Earlier quoted context omitted.

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 an…

Tikkie has a different usecase. It's meant for smaller payments between individuals In fact, you can pay a Tikkie using iDEAL/Wero

PIX is for everything, but Indeed Tikkie is more a p2p tool.
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