Wero uses AWS for their infrastructure... So much about their sovereignty focus.
Source(German): https://netzpolitik.org/2026/uneingeloestes-versprechen-auf-...
Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
411–420 of 811 posts
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#412Wero 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…
I'm just not sure this directly competes with MC/Visa the way the article suggests. Didn't other EU countries already have something similar to iDEAL, as opposed to using credit cards? And now we're just consolidating them? Also, isn't this just about online payments? Who's going to pay for a coffee with either Wero or a credit card? AFAIK most EU consumers use direct debit cards for in-store payments (those countrie…
As usual if there is reasonable competition this limits what the established actors can and will do.
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#413Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#414Wero 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 es…
/rant? :-)
1. sounds nice though! But how do they verify that it's actually you? Just matching the photo manually? People are terrible at that. Or do they scan a fingerprint?
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#415Earlier quoted context omitted.
QR codes aren't a replacement for contactless. Contactless will stay, although unfortunately Dutch banks have recently discontinued their own contactless payment system and moved to Google Pay, which was a terrible decision.
I guess the point is: Why would you bother with QR codes if you have contactless?
I still don't think contactless works across the internet.
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#416Earlier 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 hope I get to live in such a place some day.
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Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#417Earlier 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.
That sounds a little authoritarian for many Western countries, I imagine.
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Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#418Earlier quoted context omitted.
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.
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.
I got some (bad?) news for you: Most Americans are either in complete denial over this or genuinely don't care. They don't think the wealth and lifestyles they enjoy have anything to do with the US' status as a global hegemon. Some even think the relationship is inverted, believing that as the world de-Americanizes, Americans will somehow benefit from this.
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#419Wero 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…
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Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#420Earlier quoted context omitted.
> > 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.
Yes, the only difference is that you need to communicate your bank account number and likely your legal name.
Wero doesn't change that as it's just another interface for SEPA instant payments. In its current version, it just adds phone numbers as an alias. Via the phone number you can also find out their full name and, after a transaction, their account number, as long as they've enabled Wero for their account.