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Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

lesnumeriques.com

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Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#251

Post by culhatsker »

sgjohnson wrote: post #167
petcat wrote: post #13

> A Frenchman using Wero will be able to transfer money to a Spanish friend on Bizum, with the same simplicity as a domestic payment. Have you seen the new money app? It's on Tubu. It's on Weeno. I'm on Dippy but my friend is on Poob. Poob has it for you.

> > A Frenchman using Wero will be able to transfer money to a Spanish friend on Bizum, with the same simplicity as a domestic payment. SEPA Instant Payments also solves that.

Yes, the only difference is that you need to communicate your bank account number and likely your legal name.

Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#252

Post by jeroenhd »

trumbitta2 wrote: post #42

Spoiler: Europeans use whatever their banks provide.

That's the thing, European banks provide Wero, or a system that integrates with Wero. Or Swish, but integration between the two is inevitable in the future.

This whole "new" ecosystem is just gluing together existing national digital payment solutions so it can be used internationally.

Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#253

Post by moparts »

swed420 wrote: post #171
moparts wrote: post #117

Earlier quoted context omitted.

Yeah. Couldn’t agree more. Trump and Obama are the same.

Nobody said same. In fact, on a surface level, they're easy to view as polar opposites. One must critically examine beneath the surface to see how they're both on the same team (capital).

What about sanders, mamdani, aoc? Or are they just fringe candidates and don’t count? For every AOC there are a dozen Schumers I guess. But I disagree with your thesis because there are factions of ethical capitalists in the democratic party that have never existed in the modern Republican Party.

Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#254

Post by Carbon1603 »

BadBadJellyBean wrote: post #10
JumpCrisscross wrote: post #3

Banks in Spain, Italy and Portugal are joining what this article describes as France’s Wero system [1]. («L'initiative française Wero».) Focus this year is on P2P transfers. Commerce is targeted for 2027. Given EuroPA has done a token amount of transactions to date, I’m not sure anyone should hold their breaths. [1] https://en.wikipedia.org/wiki/Wero_(payment)

I wish Wero was a real alternative but it seem to be a thin wrapper around Bank APIs and SEPA instant transactions. It has pretty much non of the functionality that PayPal or other services give. It just makes it easier to send money with a phone number instead of an IBAN. My bank doesn't even support it.

Isn't the whole point of existence of WERO that European banks got scared of digital Euro and started implementing something to get in the market first?

Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#255

Post by pelasaco »

mcv wrote: post #43

Wero 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…

> 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.

To be honest with multiple banks in Germany, without Wero, works like that too..

Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#256

Post by bux93 »

tiffanyh wrote: post #90

Dumb question for those EU folks ... How do you use this when paying online? Is there the equivalent of an "Apple Pay" button on merchant website for those based in EU? (Or a Pix button, when in Brazil, etc?)

The merchant typically uses stripe or adyen or whatever (mollie has a cute name!), a payment service provider or PSP.

The PSP looks at what methods the merchant wants to accept, which methods the user could potentially be using (based on e.g. country by geo IP or some delivery location) and show the relevant icons.

EU users will see schemes like wero or Przelewy24, Japanese customers will see 'konbini' among the icons, and US users may only see credit cards, Apple Pay and Affirm. There are TONS of payment services. Stripe lists 123 of them.

The merchant will want to exclude methods that have high costs (for themselves), maybe they also care about their customers not getting into debt (so no buy-now-pay-later or credit), and some payment methods have higher rates of disputes/chargebacks (e.g. Amex).

In general, most merchants will want to offer as many methods as possible to prevent consumers who have a preference (this week) for using account A over account B from bouncing.

Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#257

Post by Kuinox »

SomeUserName432 wrote: post #219
cfontes wrote: post #60

Earlier 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.

It's not the visa/mastercard that offer chargeback, but the bank.

Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#258

Post by chneu »

Waterluvian wrote: post #131
And1 wrote: post #78

Love to see it. When Canada legalized weed in 2018, the US administration made it clear that they can ban Canadians from the US for life if they have used marijuana in the past. The administration alluded to looking at Canadian's transaction history to facilitate cracking down on this more harshly[1]. It was so clear at that point to me how badly sovereign payments and banking is so needed. FATCA is a thing, I get it…

One silver lining of the current U.S. regime's behaviour is how it's forcing us to move out of the local minima of over-Americanization that we've been stuck in for too long.

As an American, I'm so glad America is finally crumbling from its position of power. Americans need a wake up call because our insane hubris and stubbornness is responsible for so much of the bad stuff in the world.

Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#259

Post by baq »

stronglikedan wrote: post #218
mcv wrote: post #43

Wero 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…

> Instead, the payment should redirect me to my bank, where I authorize the payment through my own bank's security system. That's basically Paypal and everyone still shits on them.

paypal goes to great lengths to not be regulated as a bank, right?

Re: Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment

#260

Post by drstewart »

sgjohnson wrote: post #167
petcat wrote: post #13

> A Frenchman using Wero will be able to transfer money to a Spanish friend on Bizum, with the same simplicity as a domestic payment. Have you seen the new money app? It's on Tubu. It's on Weeno. I'm on Dippy but my friend is on Poob. Poob has it for you.

> > A Frenchman using Wero will be able to transfer money to a Spanish friend on Bizum, with the same simplicity as a domestic payment. SEPA Instant Payments also solves that.

Wero and Bizum are built on top of SEPA anyway
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