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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

#271

Post by carlosjobim »

jonkoops wrote: post #101
kccqzy wrote: 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.

> you just scan a code with your phone,

And authorize yourself with the banking app, and, and...

It's not less complicated than auto filling credit/debit card details with your finger print on your phone or laptop.

For consumers, Wero, Pix, and similar systems only have down sides for online use. The most important down side is that you can't reclaim your funds if you've been the victim of fraud. Which you can when paying by card.

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

#272

Post by deaux »

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.

> You have choice with a company,

This is wrong for a large share of the companies that most people deal with on a daily basis. And that share has been steadily increasing every single year.

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

#273

Post by tims33 »

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…

iDeal is terrible for fraud. Consumers have to file a police report.

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

#274

Post by swed420 »

moparts wrote: post #253
swed420 wrote: post #171

Earlier quoted context omitted.

Nobody said same. In fact, on a surface level, they're easy to view as polar opposites. One must critically examine beneath the surface to see how they're both on the same team (capital).

What about sanders, mamdani, aoc? Or are they just fringe candidates and don’t count? For every AOC there are a dozen Schumers I guess. But I disagree with your thesis because there are factions of ethical capitalists in the democratic party that have never existed in the modern Republican Party.

As a former Sanders supporter, it became clear that even though Bernie was likely acting in good faith, the establishment used all of their levers politically and in capital-controlled media to limit him to the role of controlled opposition. Emphasis on "controlled."

> ethical capitalists

That is not a coherent concept, especially in late stage capitalism.

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

#275

Post by swiftcoder »

stronglikedan wrote: post #218
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…

> Instead, the payment should redirect me to my bank, where I authorize the payment through my own bank's security system. That's basically Paypal and everyone still shits on them.

I don't think I've ever heard anyone complain about the actual PayPal payments flow. Most complaints are around seizing large balances due to suspected fraud...

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

#276

Post by surgical_fire »

JumpCrisscross wrote: post #181
sschueller wrote: post #149

Earlier quoted context omitted.

I trust my government (Switzerland) way more to do the thing that is right for the people and the law then some private company that has the primary goal of making money. It doesn't mean that governments don't make mistakes but the primary goal is to serve its people. That is what government is for in a functioning democracy. A functioning government is of the people for the people.

> I trust my government (Switzerland) I do, too. I’m not sure I trust Brussels.

I certainly trust the EU a lot more than I trust US corporations.

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

#277

Post by dgellow »

WJW wrote: post #8
gsky wrote: post #4

I'm pretty sure American gov won't react kindly

America: You need to be more self sufficient and not lean on us so much! Europe: America: NOT LIKE THAT!!!

Just to add a little bit more context, European interbanking initiatives are older than Trump insanity. What we are seeing at play is a slow decades-old strategy finally bearing fruits. Though Trump is for sure a factor pushing for adoption.

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

#278

Post by torlok »

mrits wrote: post #189
rbanffy wrote: post #11

Earlier quoted context omitted.

I'm pretty sure European governments know that and are prepared to deal with the temper tantrum.

Which country in Europe is prepared to deal with anything? They can’t even break away from the country currently invading them

Europe is dealing with the US, just not via empty threats on social media. Things take time when you have a functioning democratic system with checks and balances.

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

#280

Post by anal_reactor »

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…

> 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.

For some reason, most Dutch people are convinced that the way things work in the Netherlands is the gold standard of how things should work in general, and are very hostile to solutions from other countries even if those solutions are better by any sensible metric. This is especially painful when a less developed country does leaps around NL in some aspect, like:

1. In Poland, you don't need to carry any documents with you because if policeman stops you, he has access the police database anyway. This includes driving license.

2. Even if you really want to show a document, you can do it gasp on your phone screen with the official government app.

3. Albert Heijn, the most popular supermarket chain, started accepting Visa and MasterCard in 2023. Not in 2003, in fucking 2023.

4. The adoption of paczkomaty is pathetic and when you have a delivery the expectation is that you're supposed to sit and wait the entire day at home.

5. iDeal launched 2005. Przelewy24 launched in 2004. They function in exactly the same way.

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