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

lesnumeriques.com

161–170 of 811 posts

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

#161

Earlier quoted context omitted.

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.

Wero is run by the banks themselves, which are in turn controlled/restricted by the central bank. I don't think there's a meaningful difference on that front. The European ECB isn't really in a position to directly offer services to people, and relying on every country's central banks to cooperate will take decades.

The difference is clearly that banks have a different agenda from central banks.

SWIFT is a cooperative of banks also but it seems that some central banks endeavours are better. BTW Argentina created an innovation back in the early 2000s as a product of a crisis. It was implemented in record time and transfers were immediate back then and improving. It's not run by the central banks though.

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

#162
post #66
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.

I don't think it explains the "cat walks on keyboard" brand names for cheap Chinese goods on Amazon.

Nothing more reliable than good old SPLARGLE kitchenware

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

#163

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.

Amex is not very popular in Europe. Discover... I am not sure, not that much.

Visa and MasterCard are everywhere though

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

#164
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 should be the gold standard for this - it’s works perfectly for all use cases that I can think of. Hell even the homeless people around here take donations in PIX, but you can also buy a house with it. Zero fees involved

> Zero fees involved

Won’t someone think of the profits!

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

#165
post #64

Earlier quoted context omitted.

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.

> After typing your card numbers Yes, but the whole point of Wero is that you don't have to type in a bunch of info that can be easily stolen. With Wero (and many other international solutions), you just scan a code with your phone, and your banking app handles the transactions. The existing legacy solutions are just duct tape on an existing system.

So you have to use a phone or does it work without one?

Does it handle credit card payments?

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

#167
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.

> > A Frenchman using Wero will be able to transfer money to a Spanish friend on Bizum, with the same simplicity as a domestic payment.

SEPA Instant Payments also solves that.

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

#168
post #124

If they can make it as seamless as UPI, that would be incredible. UPI, imo, is the pinnacle of ease of internet payments - as seamless and quick as it can get.

UPI would be even better if it were easier for tourists to onboard and use it while traveling in India. The general mindset seems to be that there's enough domestic tourism that making things easy for foreigners isn't that important. I think that really hurts the country's economy.

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

#169
post #50
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.

Or adding "-ly" at the end.

"Just use Cashly!" "Download Crditly"

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