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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

#391

Post by aipatselarom »

gloosx wrote: post #267
moralestapia wrote: post #208

Earlier quoted context omitted.

Brazil is on the West, fyi.

on the West of what? Culturally and historically it's a Western country, yes, but politically and economically it's an Eastern country – founding member of BRICS and a developing economy. I think the author of the parent comment used "Western" term referring to ideological and economic grouping

>on the West of what?

On the West of every single country in Europe, to start with.

Don't take this the wrong way, but have you looked at a world map? I ask since a significant chunk of people from the US cannot find Mexico on a map ...

Aside from its very evident geographic location, Brazil was the site of the first lasting European colony in the Americas established by Portugal.

People in Brazil speak Portuguese[1], a Romance language derived from Latin and closely related to Spanish, French and Italian.

The genetic lineages most commonly found within the Brazilian population include Portuguese, Spanish, French, Italian, Dutch, German, and to a much lesser degree but still significant, Lebanese and Turkish [2].

The top countries whose citizens visit Brazil as tourists are overwhelmingly from the Americas and Europe: Argentina, the USA, Chile, Paraguay, Uruguay, France, Portugal, Germany, Italy and the UK.

Likewise, when Brazilians travel abroad, their main destinations are Argentina, the USA, Chile, Portugal, France, Italy, Uruguay, the Caribbean, Spain and the UK.

Share of exports to Asia: ~41%

Share of exports to the Americas and Europe combined: ~47%

Share of imports from Asia: ~43%

Share of imports from the Americas and Europe combined: ~50%

How could one reach the conclussion that Brazil is an "Eastern" country? Oh yeah, they joined a trade organization with China and Russia ... sure, they must be Eastern now.

1: https://en.wikipedia.org/wiki/Portuguese_language

2: https://en.wikipedia.org/wiki/Race_and_ethnicity_in_Brazil

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

#392

Post by Varelion »

1234letshaveatw wrote: post #326
chneu wrote: post #258

Earlier quoted context omitted.

As an American, I'm so glad America is finally crumbling from its position of power. Americans need a wake up call because our insane hubris and stubbornness is responsible for so much of the bad stuff in the world.

Another American here, I find these self loathing kind of posts to be so sophomoric and embarrassing

All I see on your timeline regarding us is blind sycophantic behavior. It's not self-loathing or sophomoric to recognize a point of policy or behavior that is not conducive to the wellbeing of global markets and wider well-being. We haven't been behaving in the best interest of the common good, or fellow Americans, nor even private interest for decades now and a little realization of that is just seeing objective reality.

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

#393

Post by _DeadFred_ »

rozap wrote: post #337
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.

[flagged]

Dang has stated these sorts of comments do not belong on HN news. Discussion of specifics are fine, but nationalist slurs are not.

https://news.ycombinator.com/item?id=48100358

Edit: wow, my bad. HN really loves low effort nationalistic slurs as entire comments now.

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

#394

Post by noirscape »

pimterry wrote: post #93
cfontes wrote: 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…

Wero does have recurring payments planned too (apparently for end of 2026), seems like they're well aware of PIX and racing hard to get into exactly the same space.

It's in theory already possible with iDeal from what I can tell (I've seen companies that use subscriptions set up an initial iDeal payment and then convert it into a regular recurring SEPA Direct Debit), but I'm going to assume that the process is kind of messy since I haven't seen many companies implement the system in that way.

Direct Debit is very nice, largely because your bank manages the subscription; companies have to declare the payment ahead of time and if you get balance mixed up for some reason, then the bank will just do the payment whenever your balance is correct if it happens within a week. I've had credit cards decline on subscriptions before because I didn't have enough loaded up on them. Never had that issue with SEPA.

Either that or "credit cards just work", so very few entities bothered until now.

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

#395

Post by BadBadJellyBean »

KeplerBoy wrote: post #19
BadBadJellyBean wrote: post #10

Earlier quoted context omitted.

I wish Wero was a real alternative but it seem to be a thin wrapper around Bank APIs and SEPA instant transactions. It has pretty much non of the functionality that PayPal or other services give. It just makes it easier to send money with a phone number instead of an IBAN. My bank doesn't even support it.

Isn't that much better than PayPal? Why would i want my money to end up in some intermediate PayPal account?

PayPal isn't without flaws but I think buyer protections and the obfuscation of the banking info are genuine features for people. I would like a real competitor to PayPal in Europe. Maybe even something that is not from a private company.

What I fear is that people will try Wero, see that it's not what they wanted and then never go back. But maybe I'm wrong.

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

#396

Post by vanviegen »

tims33 wrote: post #273
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.

Indeed, it's terrible for fraud, as fraudsters are more likely to land behind bars.

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

#397

Post by weberer »

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!!!

What a ridiculous strawman. A huge chunk of Americans are also calling for the end of the Visa/MasterCard duopoly and would love to jump on board to this.

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

#398

Post by philipwhiuk »

chatmasta wrote: post #141
arpinum wrote: post #71

This is the EU equivalent of Zelle, but pushing into merchant payments and owned and run by the banks. When the telcos tried to compete with the cloud providers by offering OpenStack they learned the business wasn't as simple as offering 10-15 services with some racks. I can imagine the same hidden complexity for payment rails On the other hand regulations have taken too much power away from merchants and Wero could…

UK Open Banking is a counter example to this argument. It’s been a huge success. Transfers between accounts are seamless, and I never need to authorize Plaid to maintain a permanent session in a headless Chromium instance reading my bank account. The APIs are well-defined, universally supported, and include authorization scopes for viewing balance, authorizing transfers, etc. That said, I don’t do many p2p payments i…

Sort of a success - people in the UK still ask for me for my account number and sort code.

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

#400

Post by drstewart »

danw1979 wrote: post #360
1234letshaveatw wrote: post #326

Earlier quoted context omitted.

Another American here, I find these self loathing kind of posts to be so sophomoric and embarrassing

[flagged]

As a European, I apologise for this arrogant reply considering how awful Europe has been as an ally over the past 50 years. I promise we will do better and am glad that we're finally trying for once.

Now let's see your introspection (:

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