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Decathlon Germany adds Wero payment option to decathlon.de website

sgieurope.com

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Re: Decathlon Germany adds Wero payment option to decathlon.de website

#231

Post by tancop »

this is good as a short term solution but it should really be a new system without commercial banks or any other for profit entity.

if you give up sepa compatibility you can have things like payments to alias with real name invisible to other party, offline qr codes, randomized per vendor account ids that cant be used to identify you. could even make account data end to end encrypted making it so police cant read it directly and need to show you a court order (but then you get problems with key recovery).

the ultimate play is replacing accounts in privately owned banks with one public system for money storage and transfers. you would only need a bank to borrow or invest and if its bankrupt you cant lose the rest of your money. of course this is equivalent to a cbdc so we would need to legally protect cash and crypto (including privacy coins) to prevent abuse from governments.

Re: Decathlon Germany adds Wero payment option to decathlon.de website

#232

Post by hvb2 »

pembrook wrote: post #205
bluebarbet wrote: post #202

Earlier quoted context omitted.

It is almost entirely mortgage debt backed by the collateral of housing.

Not the most productive asset to be leveraging, especially in rapidly declining birth rate countries, no? Meanwhile, while headline credit card interest rates in the US look insane (like 20%+), in reality loss-adjusted yield actually realized by lenders and paid by consumers (after renegotiated settlements, bankruptcies, payment plans, etc) is less than half that. You can look at the realized return on personal credi…

Over 10% of interest is still a lot... And the fact that you get to that rate through settlements and bankruptcies is a good indicator of how much of a stranglehold debt has over a typical American household.

And it's fine if you don't think a home is a bad investment. I think most people do and so far that has worked out almost perfectly. That doesn't mean anything for the future, but there are no guarantees in investing. In a lot of places a mortgage gets you tax breaks too, as opposed to other credit.

Re: Decathlon Germany adds Wero payment option to decathlon.de website

#233

Post by [deleted] »

whazor wrote: post #11
jdblair wrote: post #4

Earlier quoted context omitted.

I agree it's always fast and convenient! It doesn't have the buyer protection you get with a credit card (it debits from your account immediately), but for most purchases that is fine.

Well I guess I have good news for you (and bad news for Dutch merchants), because Wero does offer the ability to dispute.

[deleted]

Re: Decathlon Germany adds Wero payment option to decathlon.de website

#234

Post by lrasinen »

anticrymactic wrote: post #25

Wero is such a valuable asset for Europe and couldn't have come at a better time. It's built on the excellent SEPA system, which standardized bank transfers and "Lastschrift" in Europe. SEPA itself got a huge upgrade last year with mandatory instant transfers that cannot cost more than standard transfers between European checking accounts. Both of those allowed Wero to happen as a final abstract top layer, meaning: t…

"valuable asset for Europe", and it's available in 5 countries. Yay.

We already have a bunch of local non-interoperable systems, so what's one more?

Re: Decathlon Germany adds Wero payment option to decathlon.de website

#235

Post by haagch »

Muromec wrote: post #203
haagch wrote: post #182

Earlier quoted context omitted.

I have German bank accounts at two different banks and can send SEPA SCT instant transactions via webinterface and physical tan generator with both of them. Wero however is restricted to mobile apps regardless of what your tan generator is and in fact from what I heard, banks generally force you to switch to mobile app tan generators when opting into Wero. The GLS bank implies it's not up to them. Generally I feel li…

I'm not sure I understand the question actually. Will it work the same way for consumer as ideal does now? Yes, that the promise. Will the actual protocol and endpoints used be the same? I guess not, but also nothing drastic for integrators to worry about. What I don't get is -- what will be added on top of what ideal already does. >The GLS bank implies it's not up to them. They probably can't make two systems within…

Oh wow actual news: https://nos.nl/artikel/2624737-scanner-van-ing-kan-nieuwe-id...

google translate: https://nos-nl.translate.goog/artikel/2624737-scanner-van-in...

This looks like it proves me wrong and at least two dutch banks will not require a smartphone app to pay with Wero, if this actually refers to the upcoming actual Wero transition.

> At Rabobank, "approximately 8 percent of all transactions" are conducted using the Rabo Scanner, says a spokesperson. A spokesperson says that research shows that 15 percent of customers prefer using the scanner instead of the app because they find the Scanner secure.

> There are no problems at Rabobank with the transition from iDeal to Wero, according to a spokesperson. Therefore, nothing changes for customers who use the Scanner with the transition this autumn.

> At ABN Amro, the tool for making payments via online banking is called the E.dentifier. According to a spokesperson, around 250,000 ABN Amro customers are using this device this month, which is 4 percent of the total. The number of users is declining because, according to the bank, more and more customers are switching to the app.

> Although ABN Amro intends to continue offering the internet banking function, including for payments via Wero, the bank will be phasing out the E.dentifier over the coming year. ABN Amro is currently already in the process of informing the first private customers about the switch to the so-called USB Security Key. The E.dentifier will only disappear once all customers have made the switch.

This gives me some hope that this might also be possible in the rest of Europe...

Re: Decathlon Germany adds Wero payment option to decathlon.de website

#236

Post by rebirth01 »

haagch wrote: post #235
Muromec wrote: post #203

Earlier quoted context omitted.

I'm not sure I understand the question actually. Will it work the same way for consumer as ideal does now? Yes, that the promise. Will the actual protocol and endpoints used be the same? I guess not, but also nothing drastic for integrators to worry about. What I don't get is -- what will be added on top of what ideal already does. >The GLS bank implies it's not up to them. They probably can't make two systems within…

Oh wow actual news: https://nos.nl/artikel/2624737-scanner-van-ing-kan-nieuwe-id... google translate: https://nos-nl.translate.goog/artikel/2624737-scanner-van-in... This looks like it proves me wrong and at least two dutch banks will not require a smartphone app to pay with Wero, if this actually refers to the upcoming actual Wero transition. > At Rabobank, "approximately 8 percent of all transactions" are conducted…

That's encouraging. It also suggests banks recognize that removing hardware authenticators entirely would lock out a non-trivial group of customers. Hopefully the transition ends up being "app-first" rather than "app-only."

Re: Decathlon Germany adds Wero payment option to decathlon.de website

#237

Post by endofreach »

microtonal wrote: post #52
anticrymactic wrote: post #25

Wero is such a valuable asset for Europe and couldn't have come at a better time. It's built on the excellent SEPA system, which standardized bank transfers and "Lastschrift" in Europe. SEPA itself got a huge upgrade last year with mandatory instant transfers that cannot cost more than standard transfers between European checking accounts. Both of those allowed Wero to happen as a final abstract top layer, meaning: t…

Note that Wero is amongs others based on the Dutch iDEAL [1] system, which was introduced 21 years ago. Virtually every Dutch web shop supports iDEAL (and many only support iDEAL) as well as international payment services such as PayPal and Stripe. As a result, the vast majority of transactions of Dutch webshops go through iDEAL. It is really a super-nice frictionless system. iDEAL also supports P2P payments through…

> iDEAL also supports P2P payments through Tikkie (ABN AMRO) or the payment request option of other banks. You basically show a QR code or send a link and the person paying goes through the iDEAL flow to transfer the money. Tikkie (and the other bank's similar and compatible systems) have been one of the primary methods for P2P transfers for many years now.

Is that really p2p? It does not really seem like it. I am interested though, i just don't know anything about iDEAL.

Re: Decathlon Germany adds Wero payment option to decathlon.de website

#238

Post by marginalien »

sajithdilshan wrote: post #230
marginalien wrote: post #225

Earlier quoted context omitted.

Update: migration to EU cloud is in progress: https://www.heise.de/en/news/Sovereign-payment-service-Wero-...

Did you even read the article? It says > To live up to its claim of being a sovereign payment service, Wero intends to reduce its dependence on non-European cloud providers in the future. They haven't even started any migration, rather future topic without any deadline. Also the article states that > When EPI first launched Wero, only cloud services from international providers could deliver the performance, security…

Yes, and I read till the end. The article quotes a presse statement in which they say:

„EPI is currently working to reduce its dependency on non-European suppliers. The market has evolved significantly in recent years, and we are now building on this progress to drive this transition forward.“

Re: Decathlon Germany adds Wero payment option to decathlon.de website

#239

Post by roysting »

mimischi wrote: post #125
roysting wrote: post #119

Why do Germans corrupt their own language with that weird pig-German? On the German Wero site[1], the copy not only uses utterly gratuitous and even made up fake English words where there are perfectly adequate German words, e.g., "senden", hero, support, business, etc.; but the worst part is that they mess up or maybe can't even realize anymore that the German word for hero in "Der absolute Hero für dein Geld!" coul…

You are in for a ride with Denglish [1], but also “senden“ is a real word [2] — it is unclear to me from your rant if you’re trying to speak from a position of authority or are just venting for no obvious reason. [1] https://en.wikipedia.org/wiki/Denglisch [2] https://en.wiktionary.org/wiki/senden

[flagged]

Re: Decathlon Germany adds Wero payment option to decathlon.de website

#240

Post by roysting »

raverbashing wrote: post #145
roysting wrote: post #119

Why do Germans corrupt their own language with that weird pig-German? On the German Wero site[1], the copy not only uses utterly gratuitous and even made up fake English words where there are perfectly adequate German words, e.g., "senden", hero, support, business, etc.; but the worst part is that they mess up or maybe can't even realize anymore that the German word for hero in "Der absolute Hero für dein Geld!" coul…

> It's nonsensical to use "hero". Why would you use "hero"? Because it rhymes with Wero (or with Vero) And "senden" is absolutely a word, duh

[flagged]
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