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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

#551

Post by p2detar »

throw-the-towel wrote: post #520
p2detar wrote: post #49

Earlier quoted context omitted.

That's not the point at all. Currently I'm using paypal to send money to friends when we split dinner or share other costs. I'd like to use a similar European service instead and not go through a ceremony to open my banking app, initiate transfer, write the recipient's IBAN, confirm and wait a day for the transfer to take place.

> write the recipient's IBAN, You can do it once, and save in in your bank app. > wait a day for the transfer to take place. Isn't instant SEPA required to be supported by all banks now?

> You can do it once, and save in in your bank app.

I try not to send or write my IBAN just anywhere. With things like Direct Debit, I treat it with care. Sharp contrast with Paypal, where you can use your email address or even have a paypal.me page that does not expose your email at all.

> Isn't instant SEPA required to be supported by all banks now?

Yes, and yet I think it's not supported by all banks. Especially those that are not in the Euro area. One more thing - many people including me are to this day not informed or aware if instant payments are charged by banks or not. I honestly don't know.

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

#552

Post by TheRealPomax »

jorisw wrote: post #536
tintor wrote: post #531

Earlier quoted context omitted.

“balkanized” is offensive term

I wasn't aware. It's meant to refer to every country having a different solution for the same thing, which in the EU is much the case. That said I picked it up from Steve Jobs talking about cable networks in the US.

That conveniently ignores the part where it refers to a fracturing where every part is hostile towards each other and unwilling to cooperate on anything. It's not a neutral term, it really is a rather offensive term for everyone from the Balkan today.

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

#553

Post by jorisw »

TheRealPomax wrote: post #552
jorisw wrote: post #536

Earlier quoted context omitted.

I wasn't aware. It's meant to refer to every country having a different solution for the same thing, which in the EU is much the case. That said I picked it up from Steve Jobs talking about cable networks in the US.

That conveniently ignores the part where it refers to a fracturing where every part is hostile towards each other and unwilling to cooperate on anything. It's not a neutral term, it really is a rather offensive term for everyone from the Balkan today.

Understood, I will happily edit it out

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

#554

Post by MarceColl »

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…

We already have instant SEPA payments and most countries already have a version of this running, I think the idea is that this unifies it across europe. I can send money to any friend in 20 seconds with Bizum in Spain and a lot of merchants also accept Bizum.

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

#555

Post by eitally »

SomeUserName432 wrote: post #219
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 from Brazil is even better, to be honest. You lack the inherent fraud, bankruptcy and other malicious actor protection that Visa/Mastercard provides. Bought something online and didn't receive your product? With PIX you're SOL, with Visa/Mastercard you get a chargeback.

Brazil has a huge advantage in that they've required full transaction-level transparency for tax authorities -- with clearly defined technical requirements -- for almost 20 years now. One can argue whether it's a pro or a con to share this level of detail with the federal government, but it certainly makes taxation easier and fraud prosecution simpler, too.

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

#556

Post by ravenstine »

CobaltFire wrote: post #292
bildung wrote: post #185

Earlier quoted context omitted.

Ok, I choose to not use Visa/Mastercard in the US, and I want to subscribe to some saas. What do I do now? Or do you mean "choice" as in "you can always choose not the breathe or eat"?

To be pedantic American Express and Discover exist. But I agree with your meaning. We are beholden to some third party no matter how we move in the current situation.

I've found it funny how many people still believe that most places in the US don't take Discover. I almost exclusively use my Discover card and the number of times I've had it declined is a tiny fraction of a percent. Most people also don't seem to realize that Discover is also a bank, so you can use it for both credit and checking/savings. So yeah, you likely don't have to be forced to use the duopoly of Visa and Mastercard. The only time I've recently used one of my Visa cards was when I visited Europe where I found much more places don't accept Discover, although there were still many that did.

Hopefully the acquisition of Discover by Capital One results in lower processing fees so the network broadens globally and makes the notion that Discover isn't viable a thing of the past.

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

#557

Post by ohrus »

boredtofears wrote: post #471
danw1979 wrote: post #360

Earlier quoted context omitted.

[flagged]

I find the "self loathing american on the internet" act to be about as performative as putting a pink ribbon on your social media avatar after a shooting. It's not introspective in any meaningful way.

I've seen that sentiment shared a couple of times in the past day and little else before. Just something I've noticed...

I find the self loathing is usually well qualified and not at all a performative act. Performative for who exactly?

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

#558

Post by righthand »

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

No sophomoric and embarrassing is electing the same unqualified rapist pedophile moron back into power again.

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

#559

Post by grey-area »

jorisw wrote: post #539
fooyc wrote: post #517

Earlier quoted context omitted.

Online and in-store payments will follow in 2027, as per the article

Understood. But even then it couldn't be easier than the contactless direct debit we already have.

It could be cheaper though and it also reduces the reliance on an untrustworthy former ally.

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

#560

Post by applfanboysbgon »

aipatselarom wrote: post #391
gloosx wrote: post #267

Earlier quoted context omitted.

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…

> very evident geographic location

I agree that Brazil is Western, because it obviously is; it's a former European colony that speaks a European language and has European religious and cultural values. But geography has nothing to do with the concept of "Westernness", beyond historical etymology. Australia and New Zealand are as much part of "the West" as Canada is.

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