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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

#501

Post by gpvos »

locknitpicker wrote: post #377
OptionOfT wrote: post #368

Earlier quoted context omitted.

What about authentication? I remember living in Belgium this was the case, and I always had to go and find that stupid physical barcode reader that I then had to hold against the screen, sign in with my debit card, PIN, enter the Euro amount, and then sign the transaction. Now that I live in the USA, I have my credit card number in Bitwarden, with expiration date and CVC. When I want to buy something, I let it autofi…

> I remember living in Belgium this was the case, and I always had to go and find that stupid physical barcode reader that I then had to hold against the screen, sign in with my debit card, PIN, enter the Euro amount, and then sign the transaction. I can't talk about Belgium but from what I've read, the dutch iDeal system requires nothing of the sort. It seems to act as a broker between your bank and the business, an…

When using the web interface some banks still offer the physical reader (which I prefer), but the banks are pushing hard to move to the phone app.

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

#504

Post by niemandhier »

Fnoord wrote: post #470
Lionga wrote: post #310

Earlier quoted context omitted.

Considering the head of EZB is a convicted criminal with, lets call it interesting, letters to the convicted criminal Sarkozy I am not sure what is plague and what cholera.

Lets see. Gerhard Schroeder, fled to RU. Nicolas Sarkozy, convicted. Silvio Berlusconi, convicted. Geert Wilders, convicted. Slobodan Milošević, convicted. Jean-Marie Le Pen, convicted. Marine Le Pen, convicted. Donald Trump, convicted (pardoned everyone who attempted a coup on Jan 6 2021). Victor Orban, surely he'll get convicted. Benjamin N., Vladimir P.: wanted by ICC. (This excludes cases like Jan Maršálek / Wire…

I met Mr Schröder on Saturday in the Opera. I can therefore vouch that he is not in Russia.

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

#505

Post by injidup »

In Austria I'm always in the situation that shops and restaurants are unhappy that I pay by card because they claim that even a direct debit card cost them some large percentage through the terminal provider.

Will these new systems remove the middle man skimming that MasterCard/Visa has been doing to small businesses?

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

#506

Post by carlosjobim »

Shalomboy wrote: post #45

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.

It's very easy to understand: Paying by credit or debit card is incredibly easy and convenient for customers, and transactions have been instant for a long time, thanks to great technical infrastructure. While bank transfers still take days in some cases.

Most importantly: These cards give customers fraud protection, which is in many cases essential when making online purchases or when traveling. Which leads to more sales for sellers as well, when that worry is removed from the shoulders of customers.

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

#507

Post by beAbU »

wasabi991011 wrote: post #301
skrebbel wrote: post #72

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.

> Euro is pronounced "you-ro" This in not true for everywhere that uses the Euro, unsurprisingly because that encompasses a large linguistic area. I know for a fact France doesn't pronounce it that way.

How does France pronounce it?

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

#509

Post by dataflow »

sschueller wrote: post #81
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…

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.

> 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 worse to be honest. You're essentially asking for the government to be not only aware of but also able to control all digital payments. That upends how money has worked over (literally) millenia, and is an incredible risk to take. Giving someone in government the ability to block someone's payments and trusting they won't abuse it might be fine as long as good people remain in power, but do you really want to bet the entire nation's ability to live life on that?

Furthermore, wouldn't determining if a payment is legal require prying into details of the transaction that may violate your privacy? And if they make an incorrect determination based on stuff that really wasn't their business in the first place, they now have the force of government behind them, going far beyond merely declining the transaction.

I would think what you should want to advocate for is a system that cannot block payments (at least domestically) just like with cash, and enforcement either happens prior to enrollment, or after the fact through some other traditional law enforcement mechanism (warrants, etc.).

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

#510

Post by clickety_clack »

eastbayjake wrote: post #496
Arrowmaster wrote: post #429

Earlier quoted context omitted.

Yesterday I was renewing my vehicle registration through my US states website. They offered a range of payment options using embedded options on the site. The direct bank account option had the lowest fee but when I tried it I was immediately scared of the security. They used a 3rd party bank account transfer provider that asked me what bank I used and looked like it was going to prompt me for my login info before it…

When using a government website, you were intimidated by the security posture of... Plaid? (Genuine question, maybe this was some other provider but Plaid's aggregator tool is the most common place I see this pop up in real life for ACH)

I personally have _no idea_ what the security posture of plaid is. I know they're a startup and made a bit of noise a few years ago, but if I was trying to buy something and a third party app popped up saying, "hey give me total access to withdraw directly from your bank account for a sec", why on earth would I say yes to that?

It also seems to go against common security advice. "Never log into your back account if redirected by a website you sort of, but don't really trust, except sometimes its alright and it's up to you to tell the difference" is a terrible way to secure banking.

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