221–230 of 811 posts
Totally misleading. Without reading all of it: MAYBE it means: it is/will be enabled for 130m people. And even those of us who have activated it, have hardly used it for the most part, or hve concerns.
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…
The redirect to a bank is worrying, isn’t it trivial to fake redirecting to a fake bank ?
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…
But can credit cards really do all those things? You just entrust your credit card number to a party that does it for you, but the credit card system itself isn't taking care of those things like recurring payments.
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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.
There are exactly two companies in the global credit card market and they operate in lockstep, literally coming to agreements to shut down legal businesses together. Visa and MasterCard have absolutely no right to determine who is and isn't allowed to receive payment. Governments have that right, but that doesn't mean they should use it -- if they're abusing that right, people can vote them out. The effectiveness of people voting out harmful politicians is another matter, but that's kind of on the people being bad at voting, not the idea of government altogether, and at any rate you have no vote whatsoever in what MC/Visa do (unless you vote for government to regulate them!).
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.
There's supposedly also an Italian pun based on "vero" in there. I've heard pretty much every European English-as-a-second-language speaker pronounced the W differently, though, and pronunciation of the E isn't even consistent within native English populations. I can't wait for the "vee-ro? oh, you mean whay-ro" discussions between tourists and stores.
Ouiro does sound pretty ridiculous to be honest
What does this mean for travel if Visa is not “everywhere you want to be”? I can’t tell if this is going to replace Visa/Mastercard or be offered in addition to Visa/Mastercard to handle transactions for locals while still allowing transactions to be viable for everyone else who might be passing through.
You'll live life as if you had AMEX instead.
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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.
I'm pretty sure American gov won't react kindly
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.
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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.
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The problem with 3D Secure is that the merchant can unilaterally decide not to use it, which defeats the whole purpose of 3D Secure.
non-3DS payments are trivial to chargeback, at least in the EU
We ought to have liability shifting. A long time ago there was a liability shift where if a merchant uses the magnetic stripe on a card equipped with a chip, then the merchant is unconditionally liable in case of a chargeback. We just needed merchants to be liable when the bank supported 3DSecure but the merchant chose not to use it.