151–160 of 386 posts
This 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.
Can someone tell me why the EU doesn’t develop something like RuPay? Indian UPI gets mentioned a lot, but when Visa, Mastercard didn't agree with data sovereignty rules among other rules, India quickly developed RuPay [0]. Now most debit cards in India are RuPay. CCs stand at 18% share. They also integrate seamlessly to UPI. Why doesn’t the EU consider something like that? They want to jump direct to digital currenci…
It's simple: banks don't want the people they've fleeced to realise that they no longer have a role in the present age. If you let legal tender be exchanged directly via a central bank (which is semi-public by nature), banks lose a huge amount of liquidity that fuels fractional-reserve banking through loans made to generate massive amounts of cash, and without these, the banks are bust.
UPI still connects with bank accounts.
My question was about something else: why EU doesn’t try and develop a homegrown card provider? It would provide exactly what MC/Visa does. Are we beyond that point in terms of technological advancement? Some other reason?
I am still not quite sure how this would affect my day-to-day (private) payment experience transaction cost etc.
But is has strategic value for Europe:
> [...] European dependencies in critical technologies. A digital euro could mitigate these developments in the medium term if the infrastructure is mainly operated by European companies and if European payment service providers manage to achieve a leading position in the evolving ecosystem for digital euro services.
Some more: https://www.ecb.europa.eu/euro/digital_euro/timeline/profuse...
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.
Reminder to all commenters that Europe is not a single homogeneous country and somewhat diverse in various things, including payments and finance. Credit cards are definitely a thing in many European countries.
Yes, a thing associated with debt.
I lived in the UK before Brexit, and that would be an example of such.
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.
Reminder to all commenters that Europe is not a single homogeneous country and somewhat diverse in various things, including payments and finance. Credit cards are definitely a thing in many European countries.
Earlier quoted context omitted.
Reminder to all commenters that Europe is not a single homogeneous country and somewhat diverse in various things, including payments and finance. Credit cards are definitely a thing in many European countries.
> Credit cards are definitely a thing in many European countries Yes, a thing associated with debt. I lived in the UK before Brexit, and that would be an example of such.
Earlier quoted context omitted.
Reminder to all commenters that Europe is not a single homogeneous country and somewhat diverse in various things, including payments and finance. Credit cards are definitely a thing in many European countries.
which ones use Credit Cards to a larger degree than Debit Cards, like they do in the US?
Can someone tell me why the EU doesn’t develop something like RuPay? Indian UPI gets mentioned a lot, but when Visa, Mastercard didn't agree with data sovereignty rules among other rules, India quickly developed RuPay [0]. Now most debit cards in India are RuPay. CCs stand at 18% share. They also integrate seamlessly to UPI. Why doesn’t the EU consider something like that? They want to jump direct to digital currenci…
Some merchants disable RuPay CC payments even when they don't get charged merchant fees till the payment crosses the INR 2K threshold.
Strangest thing is when I can pay the guy pushing a handcart around selling vegetables using a RuPay CC while a medical store refuses to accept it.
Earlier quoted context omitted.
They are, it’s called Wero. It is a stopgap, and sits on top of SEPA. Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment - https://news.ycombinator.com/item?id=48207004 - May 2026 (777 comments) Wero – Digital payment wallet, made in Europe - https://news.ycombinator.com/item?id=47038965 - February 2026 (132 comments) Europe's Banks Launch Wero Payments to Dislodge Visa, Mastercard - https://n…
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?
> 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?
To avoid US government control of your payments and US corporate payment processor extraction of value via your payment flows. How do you avoid someone else controlling your infra? You instantiate, operate, and maintain your own infra. Brazil runs their instant payment system Pix for ~$10M/year, for example. The cost is very reasonable to do so.
[1] https://old.reddit.com/r/AskAChinese/comments/1qgq6ya/why_di...
[2] https://www.brookings.edu/articles/chinas-digital-payments-r...
[3] https://easebuzz.in/explainers/upi/upi-qr-code/
[4] https://dev.to/woovi/how-does-pix-qrcode-work-5e3k