It's only available in 3 countries in EU. Great.
But classic slowness of EU, it should be in whole EU yesterday. With manadatory Euro.
Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
581–590 of 811 posts
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#582Earlier quoted context omitted.
You're describing the concept of insurance.
I know ;)
I can't imagine in what world it sounds like a good idea to attach an extra insurance product as a mandatory step to use cash online. Feel free to take out insurance for every 5€ product you buy online but I don't want to pay an extra % of my income to the finance industry just to use the money I've earned
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#583Wero is for internet payments, but Visa and Mastercard are still involved for card payments. I just got a new-style Dutch debit card and it has a Mastercard logo on it; Visa cards are also still being given out.
The idea is that merchants will ditch the card-pos in the long run. You scan a QR-code or send money through some app. Satispay does that in Italy and got massive rollout from stores because fees were pretty low also for smaller transfers, so no more "sorry, at least 5 euros to pay with card"
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Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#584Good. Now the same has to happen for the software industry.
Unfortunately EU officials also can not be trusted. They are indeed weak. So we all know in the long run, the USA always gets favourable deals and Europans are kept as proxy-payers here. Germany in particular has a very unhealthy love affair going with the USA; to some extent this is understandable due to an export-centric industry, but now there is a recession and Germany still thinks it'll go away soon, "just don't change anything". Timid rabbits, with Merz being the uber-rabbit that just does nothing useful on his own. Other than risking being a loudmouth before he was elected - and now germans are very unhappy with his performance.
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#585Earlier quoted context omitted.
[flagged]
Why use a LLM when you got Wikipedia [1]. Which references an article in The Guardian [2]: > A French court convicted the head of the International Monetary Fund and former government minister, who had faced a €15,000 (£12,600) fine and up to a year in prison. But it decided she should not be punished and that the conviction would not constitute a criminal record. On Monday evening the IMF gave her its full support.…
Hat tip. I did not think to check Wiki for this issue. Thanks.
I agree: The comment from the public prosecutor is excellent. To me that is a very strong sign of a well-balanced, highly functioning democracy (and its legal system).
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#586Earlier quoted context omitted.
I don't see a way it wouldn't be offered in addition to. Some EU countries (e.g. Denmark) already do something similar where we a national debit card called "DanKort" (mashup of "Danmark" and "Kort" which translates to "Denmark" and "Card"). It typically also has a VISA part to it for usage abroad. All stores accept this as well as VISA/Mastercard since they want to maximize who they can get money for, so it's alread…
> I don't see a way it wouldn't be offered in addition to. Yes, it will for most nation wide chains, touristic places, and anywhere that has comfortable margins. For smaller shops and tighter business models, dropping the costlier networks will be the first thing they do. Same way a decent number of shops won't accept Amex, or just no card at all. Now if we're is cheap and popular enough, there might be more stores g…
We’re seeing the opposite in the US where smaller shops aren’t taking cash, presumably so they don’t have to deal with managing it. There is a cost, but I’m sure every business has already priced goods accordingly to pass those fees onto the consumer.
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#587Earlier 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.
> 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) mi…
Worse? Are you serious?
In EU, Czechia. Foreign(french lol) banks are banning accounts because you work in gun manufacturing industry. In EU. When 2 countries from you, there is a FCKIN' war happening.
Only because France, Germany, UK and similar countries are against guns and against self-defense, where your only option is to lay on the ground and let the attacker kill you.
Luckily we can still use guns for self-defense, we can conceal carry by default and we will fight EU laws till our death for this.
(pepper sprays, knives and even katana, whatever. Heh that's a joke, but for real, you can use that without any permit, in theory.)
EU Brusel is trying very hard to force these idiotic laws to every country.
Eg.: they forced limited mags for rifles.
We have bypassed that with local law haha, when you get a gun permit (which is not easy, but not impossible) you just fill a paper with "a gun buy order" for the police and you are by law allowed to have unlimited magazine, silencer and special JHP ammo. Reason self-defense and defense of your property (default reason, police will only check same thing they've checked for gun permit. Your criminal record).
And also luckily we don't need to use anything, because our criminality is a liiiiitle bit lower than France, Germany and UK. You know why.
But tide is changing, Poland will be biggest economy in EU in few years and their gun laws are also changing and we have a lot of common with them.
I believe together with other reasonable countries (Slovakia, Hungary etc.) We will overturn this idiocy comming from France, Germany and other "west" countries.
Btw I'm for EU, even for federalization of EU. But with US approach. EU should be no.1 country, yes country, in the world.
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#588Earlier quoted context omitted.
LOL thank you domain squatters. I can't think of any other reason why startups often always have the most ridiculous names.
A lot of these are puns/vague money sounding names in different languages. Wero has got to be the worst of the bunch, though. An awkward combination of "we" and "euro" combined with "vero". At least the other pooq/wolo/snivum/rumio like names aren't trying to hard.
Apparently it's the same as the Dutch payment system but in some languages that "iDEAL" had wrong associations.
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#589Earlier quoted context omitted.
Yes, the only difference is that you need to communicate your bank account number and likely your legal name.
> you need to communicate your bank account number in Latvia we need to do this for domestic payments anyway. We use IBAN even for domestic payments.. > and likely your legal name. not mandatory. If provided, the bank tells you whether the recipient name matches the account, but if not, you can proceed with the payment anyway.
They made it mandatory in NL not long ago iirc, or at least the validation now is and the bank doesn't let me leave the field blank. It does seem to be okay with variants of the name
I, too, would prefer to just be able to give people a random number to send money to. Isn't that a GDPR requirement anyway: data minimisation? Can they legally require this beyond their 90% of the law (that is, custody of the thing I'm trying to move)?
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#590This explains why they were in China pushing for them to open up the market to them. They're nearly bleeding all of Europe.