Earlier quoted context omitted.
That sounds a little authoritarian for many Western countries, I imagine.
Brazil is on the West, fyi.
The new alignment isnt East vs West... But North vs Global South, which Brazil sees itself a part of the South.
Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
231–240 of 811 posts
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#232Wero is basically an EU-wide version of the Dutch iDeal system, which in my opinion is the gold standard of how internet payment should work. I shouldn't have to fill in any card numbers on the site of the merchant (which is unsafe). Instead, the payment should redirect me to my bank, where I authorize the payment through my own bank's security system. I've always been annoyed by the need to type in sensitive card in…
How does the website know which bank to redirect to?
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#233Earlier quoted context omitted.
The gibberish brand names on Amazon are a formulaic way to streamline trademark registration which Amazon requires for some features on their selling platform. https://stemerlaw.com/2025/07/16/why-are-amazon-brand-names-...
I wonder if a name with CJK characters can be trademarked?
Yes, they can. I suspect latin characters are used for practical reasons: compatibility with US expectations... some systems only accept latin characters and certainly your US customers wouldn't be able to search for chinese language characters.
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#234Wero is basically an EU-wide version of the Dutch iDeal system, which in my opinion is the gold standard of how internet payment should work. I shouldn't have to fill in any card numbers on the site of the merchant (which is unsafe). Instead, the payment should redirect me to my bank, where I authorize the payment through my own bank's security system. I've always been annoyed by the need to type in sensitive card in…
Interestingly in a number of African Countries (Uganda, Kenya, Tanzania etc) , we have “Mobile Money”, Payments are instant, via USSD, no internet required, I can even pay online using USSD push.This is a classical example of humans using what they have to build what they need , no fancy internet enabled smart phones required. I can send money anytime instantly to my grandma deep in the village. She can withdraw from…
the mobile money while convenient r not exactly secure due to MITM.
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#235Earlier quoted context omitted.
I'm pretty sure European governments know that and are prepared to deal with the temper tantrum.
Which country in Europe is prepared to deal with anything? They can’t even break away from the country currently invading them
A bit rich on an article showing we are precisely breaking away, topic by topic, to something which is more balanced.
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#236Wero is basically an EU-wide version of the Dutch iDeal system, which in my opinion is the gold standard of how internet payment should work. I shouldn't have to fill in any card numbers on the site of the merchant (which is unsafe). Instead, the payment should redirect me to my bank, where I authorize the payment through my own bank's security system. I've always been annoyed by the need to type in sensitive card in…
In Denmark i currently have to enter my card details but then, i get a popup where i have to enter my government issued ID username and scan a QR code from the related app (or enter from a 2fa token generator)
Its annoying - but it feels quite secure
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#237I'm legitimately curious how these American payment companies held onto their worldwide dominance for so long. I'm used to seeing the sign at restaurants of all the other cards they accept, but for so long I've only ever seen Amex, Discover, Visa, and Mastercard in folks' hands.
Its simple: they have deals with all the big banks who issue the popular cards with all of the rewards, so those are the cards people get.
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#238Earlier quoted context omitted.
PIX from Brazil is even better, to be honest. But this is a big improvement over online CC payment. I lived in the NL and Brazil, so I can compare the two, and while iDEAL is pretty good, PIX is easier to understand, explain, and deal with. PIX has more variants, you can use it for recurrent payment, split payments, financing, cashout and almost all things a CC can do nowadays. I would say Tikkie is almost as good an…
> PIX from Brazil is even better, to be honest. You lack the inherent fraud, bankruptcy and other malicious actor protection that Visa/Mastercard provides. Bought something online and didn't receive your product? With PIX you're SOL, with Visa/Mastercard you get a chargeback.
Yes, but it's a statistically negative sum game for the customer. Visa wouldn't offer such a service if they weren't winning out in the long run, collecting rent on every one of your purchases.
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#239Earlier quoted context omitted.
There is a 3DSecure system for existing Visa, Mastercard, and American Express. After typing your card numbers, the transaction doesn’t immediately go through but you are also redirected to the bank’s system. Banks can ask you to use a hardware token, an app, or any other second factor to approve the transaction. It’s a shame that this system isn’t ubiquitous for the rest of us not in EU.
> After typing your card numbers Yes, but the whole point of Wero is that you don't have to type in a bunch of info that can be easily stolen. With Wero (and many other international solutions), you just scan a code with your phone, and your banking app handles the transactions. The existing legacy solutions are just duct tape on an existing system.
Does it mean that instead of depending on the Visa/Mastercard duopoly you now depend on the Google/Apple duopoly?
Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
#240Earlier quoted context omitted.
PIX from Brazil is even better, to be honest. But this is a big improvement over online CC payment. I lived in the NL and Brazil, so I can compare the two, and while iDEAL is pretty good, PIX is easier to understand, explain, and deal with. PIX has more variants, you can use it for recurrent payment, split payments, financing, cashout and almost all things a CC can do nowadays. I would say Tikkie is almost as good an…
> PIX from Brazil is even better, to be honest. You lack the inherent fraud, bankruptcy and other malicious actor protection that Visa/Mastercard provides. Bought something online and didn't receive your product? With PIX you're SOL, with Visa/Mastercard you get a chargeback.
This looks as a benefit on the surface, but it is not. In the end everybody loses -- the bank, the network, the customer, the merchant.