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

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

#111

Post by madradavid »

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…

Interestingly in a number of African Countries (Uganda, Kenya, Tanzania etc) , we have “Mobile Money”, Payments are instant, via USSD, no internet required, I can even pay online using USSD push.This is a classical example of humans using what they have to build what they need , no fancy internet enabled smart phones required. I can send money anytime instantly to my grandma deep in the village. She can withdraw from or top up her account in the numerous mobile money stalls that are everywhere. You pay school dues, medical bills , groceries via mobile money. I don’t remember the last time I visited a bank, hell I can even get an instant loan by just dailing *165# on my no internet feature phone.

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

#112

Post by nozzlegear »

swed420 wrote: post #61
simonask wrote: post #35

Earlier quoted context omitted.

Who cares at this point. Nothing has ever managed to unite Europeans as effectively as the orange man’s unrelenting torrent of temper tantrums over the past year and a half. Americans, we know some of you aren’t crazy. Can’t wait for the grown-ups to be in charge again, but in the mean time we’ll be moving on.

> Who cares at this point. Nothing has ever managed to unite Europeans as effectively as the orange man’s unrelenting torrent of temper tantrums over the past year and a half. > Americans, we know some of you aren’t crazy. Can’t wait for the grown-ups to be in charge again, but in the mean time we’ll be moving on. Assuming by "grown-ups" you mean Team Blue, then you'll be disappointed, because they manufactured conse…

This is just more trite "Muh both sides" doomerism.

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

#113

Post by anilakar »

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…

Most online merchants redirect me to my bank's web page when I enter my Visa credit card number. In theory it should be possible to have a card number that by itself is useless and always requires an external confirmation?

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

#114

Post by hellweaver666 »

HunOL wrote: post #95

The title is definitely an over-exaggeration. "Goodbye" will happen when Europeans going abroad no longer need to take Visa or Mastercard cards with them. What is currently happening is the solving of instant cross-border P2P transfers, which sounds like a very niche problem. Online payments are mostly a solved problem because payment gateways like Adyen or Stripe already support local payment systems.

When we need that, we can use Apple/Android pay in many many places or just spin up a temporary visa/mastercard with platforms like Revolut.

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

#115

Post by gardenerik »

hirako2000 wrote: post #79
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…

In fact a unique payment ID (e.g QR) to "push" payment is even safer. No redirect. That's how payment should be. Not an authorization given to pull from us, but the agency for us to push the amount.

In fact, there is EPC code, but it is rarely used and bank support is abysmal, at least in our country. But that can also be because we have some homegrown local standard for payment QR codes (and a new one in the works, lol).

[0] https://en.wikipedia.org/wiki/EPC_QR_code

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

#116

Post by Imustaskforhelp »

fontain wrote: post #52
atonse wrote: post #30

Earlier quoted context omitted.

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”.

Yeah its a bit bad LLLL.com are all taken I do have k4qr.com but its LNLL.

On the other hand though, there are still .org and .net if you are lucky.

I usually just use tld-list.com to find all the domains from a particular keyword and then you can buy one which can be nice (eg: I bought https://mirror.forum this way)

that being said, you can find the registration prices to sometimes be cheap but the renewal prices can be double the .com or more (which is around 8-10$)

For my domain of https://use.expert its renewal is around 40-50$ (4x .com price) but probably worth it as I really love it but I might drop a few domains like mirror.forum as its 20$ just doesn't feel worth it to me and I will just auction it in some forums, not really that sure at the moment

So TLDR: you can find some good names if really need be but the idea generally for these startups is to do something similar to what I am saying and then buy the .com later if/when they have the funds, personally I am not that big of a fan of .com but I do realize that I have more chances of remembering .com's because that's the default expectation of the internet.

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

#117

Post by moparts »

swed420 wrote: post #61
simonask wrote: post #35

Earlier quoted context omitted.

Who cares at this point. Nothing has ever managed to unite Europeans as effectively as the orange man’s unrelenting torrent of temper tantrums over the past year and a half. Americans, we know some of you aren’t crazy. Can’t wait for the grown-ups to be in charge again, but in the mean time we’ll be moving on.

> Who cares at this point. Nothing has ever managed to unite Europeans as effectively as the orange man’s unrelenting torrent of temper tantrums over the past year and a half. > Americans, we know some of you aren’t crazy. Can’t wait for the grown-ups to be in charge again, but in the mean time we’ll be moving on. Assuming by "grown-ups" you mean Team Blue, then you'll be disappointed, because they manufactured conse…

Yeah. Couldn’t agree more. Trump and Obama are the same.

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

#118

Post by aarroyoc »

This is written from a French perspective as if southern countries joined later because they were not as developed. Quite the opposite. Spain, Italy and Portugal were in the first years of EPI, but they went there own ways because of the lack of progress that was being made by other members like France and Germany. Bizum in Spain is quite popular (I would say that more than Wero in France) and now is starting to manage payments in physical stores, after being a popular solution to transfer money between friends and in online payments (and in the physical black market).

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

#119

Post by hellweaver666 »

tiffanyh wrote: post #90

Dumb question for those EU folks ... How do you use this when paying online? Is there the equivalent of an "Apple Pay" button on merchant website for those based in EU? (Or a Pix button, when in Brazil, etc?)

Go to store, select "pay by Wero". Get redirected to payment screen where I select my bank. My bank just shows a QR code that I scan with my bank app, authenticate the usual way, redirect back to store, job done.

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

#120

Post by philipallstar »

somewhatgoated wrote: post #107
philipallstar wrote: post #87

Earlier quoted context omitted.

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

I guess it comes down to who you would trust more - your own government which you have some control over via elections or some (potentially multinational) corporation which you have exactly zero control over?

It's the other way around. You have choice with a company, and people can switch provider very quickly if they are bad. You have very, very coarse-grained control with the government every few years.
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