Digital euro clears key hurdle as EU seeks to break free from U.S. credit cards
1–10 of 386 posts
Re: Digital euro clears key hurdle as EU seeks to break free from U.S. credit cards
#2I'm not gonna use CBDC because they'll get hooked up to digital id, no matter what they're "promising" right now. This is just another shitcoin no one asked for.
Re: Digital euro clears key hurdle as EU seeks to break free from U.S. credit cards
#3I'm not gonna use CBDC because they'll get hooked up to digital id, no matter what they're "promising" right now. This is just another shitcoin no one asked for.
Aren't your transactions with your bank already hooked up to your identity?
>> This is just another shitcoin no one asked for.
Giving Europe independence from US payments processors is a huge deal and very necessary.
Re: Digital euro clears key hurdle as EU seeks to break free from U.S. credit cards
#4This seems different than a credit card account though? I buy everything with my credit cards because I don't want to swipe my bank card at random merchants.
Re: Digital euro clears key hurdle as EU seeks to break free from U.S. credit cards
#5> giving Union citizens the freedom to opt to pay with central bank money
Because nothing speaks freedom more than a crazily centralized digital currency
/s
Re: Digital euro clears key hurdle as EU seeks to break free from U.S. credit cards
#6I hope that they don't fall into the same trap that a lot of EU projects fall in to: only solving one problem.
My VISA card is not only a convenient payment method, it also forces ATM operators to give me cash without any extra fees. In Germany the EC card used to be THE way of paying with a card but you had to go to the ATMs of your bank, otherwise there would be sometimes pretty ridiculous fees. The kicker was that the fees were set by your home bank.
Add to that the ease of use online as well as in shops and it's easy to see that this is not going to be easy. I do root for them though, to do better than Wero.
Re: Digital euro clears key hurdle as EU seeks to break free from U.S. credit cards
#7??? Doesn't Europe already have Wero (iDEAL in Netherlands)? That's a system for making online payments. Money gets directly debited from your bank account.
I've always found credit cards stupid. You just want to pay for something, and then suddenly you have a debt. You shouldn't be in debt when you can clearly pay with money you have. Credit card companies advertise with "super easy payments" and "buy now pay later" but at the same time the government warns all the time that "lending money costs money". Also, if your credit card number and CVC get leaked, then anybody can steal any amount of money, and your only recourse is to regularly check your statements and warn the bank within a month. Whereas with Wero/iDEAL you must authorize the exact transaction at that exact amount.
Supposedly, Americans have these "credit card rewards" loyalty program things. Doesn't exist in Europe. You can only pay, you don't get any bonuses. Which makes the only reason to have a credit card is to be able to pay in web shops that don't accept Wero/iDEAL.
Re: Digital euro clears key hurdle as EU seeks to break free from U.S. credit cards
#8I'm not gonna use CBDC because they'll get hooked up to digital id, no matter what they're "promising" right now. This is just another shitcoin no one asked for.
CDBC doesn't necessarily imply blockchain. It can be just another payments system.
Re: Digital euro clears key hurdle as EU seeks to break free from U.S. credit cards
#9I hope that they don't fall into the same trap that a lot of EU projects fall in to: only solving one problem. My VISA card is not only a convenient payment method, it also forces ATM operators to give me cash without any extra fees. In Germany the EC card used to be THE way of paying with a card but you had to go to the ATMs of your bank, otherwise there would be sometimes pretty ridiculous fees. The kicker was that…
What does your visa card do to force them to not charge fees?
I still see atm fees over here in the us, so it can't just be being visa. I would guess some regulation but you could get that applied to the digital euro too probably?
Re: Digital euro clears key hurdle as EU seeks to break free from U.S. credit cards
#10This seems different than a credit card account though? I buy everything with my credit cards because I don't want to swipe my bank card at random merchants.
A vast majority of card transactions in the EU are done via debit card. Credit card accounts for only around 25% vs debit. And the only place I've swiped my card was once, in the US, about 15 years ago.