201–210 of 386 posts
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It is indeed ridiculous. In the UK all bank cash machines are free no matter which bank you're from. My Girocard charges me 7€ for out of house withdrawals.
Bank-owned and supermarket cash machines don't generally charge for withdrawals in the UK but there are still many third-party machines that do.
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Is Wero something you can hold in your hands? RuPay is just like Visa/Mastercard in the sense you get physical cards that you can use at ATMs, use at ecomm sites, etc. Wero doesn’t seem to be that. Am I missing something? Does making a new direct alternative to Visa/MC doesn’t make sense for the EU? If so, why?
Cards (as implemented in the US at least, i.e., with individual purchases not confirmed by the cardholder) are a relic of a different time in many ways. If you're building out a brand new system, why not make use of the computing device with input/output capabilities (that can be used to confirm amount, payee etc.) almost everybody already has in their pocket/purse anyway and instead rely on merchants being honest an…
There is no sovereign EU mobile OS. Adding a hard dependency to Android/iOS is removing one US hard dependency in your payment stack to add another. So, physical cards are a must until there is a European mobile OS with widespread adoption (i.e. never).
Unfortunately, the EU approach here has been not only adding this iOS/Android hard dependency, but also locking it down with crap like device attestation to make sure that it is impossible to use their "sovereign" systems without a US corporation (Google/Apple) certified device. They are actively hostile to alternatives like Lineage or Graphene for instance.
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Among the middle and higher as well.
The problem as I see it is that you pay your credit card bill only once a month which gives you no bearing on your effective balance. This is mostly a problem for lower and middle income people who live from paycheck to paycheck.
It just makes no sense to not pay things right away.
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In EU most people use direct debit. The term "credit card" is almost synonymous with debit. Chargebacks theoretically exists but they are more complicated, I don't know anyone who ever did that.
Where do you live in Europe? This has simply not been my experience at all in France, Germany, UK, Italy and Spain so far. Online shops most of all don’t take debit at all and bricks and mortar shops will accept credit more often than debit. Again, my experience. And I prefer to pay with debit because I know the shop will pay less fees. I get refused at Starbucks, random shops in train stations, etc.
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In EU most people use direct debit. The term "credit card" is almost synonymous with debit. Chargebacks theoretically exists but they are more complicated, I don't know anyone who ever did that.
Do you mean debit cards? With very few exceptions, you can't pay with direct debit in-store, and for online payments at merchants that don't know/trust you yet as a customer it's also pretty uncommon.
Online the same, you just use your card details like a credit card, the payment system is the same for years now anyway - thats the whole point of initiatives like this digital euro and Wero!
Reminder to the people reading this thread and overall comments, that in Europe everyone uses Debit Cards instead of Credit Cards. Credit Card in Europe is very much associated with Debt.
Eu: Most of the people I know use debit rather than credit because we can manage our finances.
"I use debit because I can manage my finances" reads as "I don't trust myself with credit." If credit is a trap you have to avoid, that's not the flex you think it is.
It's a tool. Some people use it. Some people are scared of it.
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Cards (as implemented in the US at least, i.e., with individual purchases not confirmed by the cardholder) are a relic of a different time in many ways. If you're building out a brand new system, why not make use of the computing device with input/output capabilities (that can be used to confirm amount, payee etc.) almost everybody already has in their pocket/purse anyway and instead rely on merchants being honest an…
> If you're building out a brand new system, why not make use of the computing device with input/output capabilities There is no sovereign EU mobile OS. Adding a hard dependency to Android/iOS is removing one US hard dependency in your payment stack to add another. So, physical cards are a must until there is a European mobile OS with widespread adoption (i.e. never). Unfortunately, the EU approach here has been not…
This is interesting and poignant less because of the digital currency aspect and more because of the geopolitics. In a world where technology touches everything, tech itself becomes political. The boulder that is de-Americanization has rolled too far downhill now and gained too much momentum; it can no longer be stopped. The two thirds of Americans who either voted for Trump or couldn't be bothered to vote against hi…
Don't underestimate how much in bed are many of the european politicians/oligarchs with US neocon class. Trump is also problem for them. If Trump gets replaced by some moderate neocon on wave of “good old times” every one of these lobbied politicians will jump back hail comming of the golden age, buy everything american again and delete all this sovereignity out of the sky. Trump moved overton window so much we will…
I don't think so. In fact I think you, like the American delegation in the article I linked to, are dramatically underestimating the degree to which a lot of US allies feel betrayed.
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The problem as I see it is that you pay your credit card bill only once a month which gives you no bearing on your effective balance. This is mostly a problem for lower and middle income people who live from paycheck to paycheck.
Middle and higher income people dont need debt on monthly basis and see not having that debt as personal virtue. It just makes no sense to not pay things right away.