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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

#131

Post by Waterluvian »

And1 wrote: post #78

Love to see it. When Canada legalized weed in 2018, the US administration made it clear that they can ban Canadians from the US for life if they have used marijuana in the past. The administration alluded to looking at Canadian's transaction history to facilitate cracking down on this more harshly[1]. It was so clear at that point to me how badly sovereign payments and banking is so needed. FATCA is a thing, I get it…

One silver lining of the current U.S. regime's behaviour is how it's forcing us to move out of the local minima of over-Americanization that we've been stuck in for too long.

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

#132

Post by baq »

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's the polish BLIK which is basically the same idea and there are probably a dozen more in other countries; need consolidation in this space tbh

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

#133

Post by DonHopkins »

timpera wrote: post #27
bouk wrote: post #16

Earlier quoted context omitted.

iDeal is an enormous success in the Netherlands so if banks implement it as well in other countries then it will definitely be competitive with credit cards for online payments

iDeal is in the process of being replaced by Wero, which is pretty cool!

Wero sounds weirdo, but iDeal sounds like a confession you sell drugs.

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

#134

Post by arbol »

madradavid wrote: post #111
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…

Are you referring to m-pesa?

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

#135

Post by eesmith »

If it requires (or will require) Google/Apple authentication then it's of course not sovereign payment. It looks like Wero works on GrapheneOS, at least for now. Will that always be possible?

Will it always be smartphone only, or will there be other options?

I've read about the problems kids (eg, 10 year olds) are having in the countries which have gone mostly cash-free when they don't have a smartphone or debit card to use for otherwise normal and age-appropriate transactions.

I can't help but think that by switching even more of the economy to smartphone-based solutions then kids will have even more restricted purchasing autonomy.

To say nothing of people like me who don't have and don't want to have a smart phone.

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

#136

Post by jeroenhd »

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.

A lot of these are puns/vague money sounding names in different languages.

Wero has got to be the worst of the bunch, though. An awkward combination of "we" and "euro" combined with "vero". At least the other pooq/wolo/snivum/rumio like names aren't trying to hard.

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

#137

Post by bad_username »

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.

I can feel Galactus's pain.

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

#138

Post by irishcoffee »

skrebbel wrote: post #72

I'd like to take this opportunity to share with you all that Wero is called Wero because Euro is pronounced "you-ro" and when you share your you-ro it becomes a we-ro.

When I give someone money I don't feel like I'm sharing it at all. Sounds like it goes from a "my-oh" to a "your-oh" and is aptly named from the jump.

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

#140

Post by vrganj »

philipallstar wrote: post #120
somewhatgoated wrote: post #107

Earlier quoted context omitted.

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.

I've moved countries five times in my life. I still haven't been able to fully get rid of my dependency on Big Tech or the Visa/Mastercard duopoly.
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