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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

#291

Post by ta-run »

rafram wrote: post #168
ta-run wrote: post #124

If they can make it as seamless as UPI, that would be incredible. UPI, imo, is the pinnacle of ease of internet payments - as seamless and quick as it can get.

UPI would be even better if it were easier for tourists to onboard and use it while traveling in India. The general mindset seems to be that there's enough domestic tourism that making things easy for foreigners isn't that important. I think that really hurts the country's economy.

My comment was more centered around the UX of UPI. But to address your point, there is a separate app for tourists called UPI One World, works as a digital wallet and the UX is similar.

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

#292

Post by CobaltFire »

bildung wrote: post #185
philipallstar wrote: post #120

Earlier quoted context omitted.

It's the other way around. You have choice with a company, and people can switch provider very quickly if they are bad. You have very, very coarse-grained control with the government every few years.

Ok, I choose to not use Visa/Mastercard in the US, and I want to subscribe to some saas. What do I do now? Or do you mean "choice" as in "you can always choose not the breathe or eat"?

To be pedantic American Express and Discover exist.

But I agree with your meaning. We are beholden to some third party no matter how we move in the current situation.

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

#293

Post by Tepix »

SirMaster wrote: post #192

But does this act like a debit account? What I like about a credit card are things like you are buying on credit, not using money in your account directly. So in the case of fraud or issue a chargeback it's been much easier to get credit card transactions reverted rather than get money put back into my debit account. Also I like credit cards for the rewards, cash back or especially travel points. But also things like…

Wero uses your existing debit account, it's not a separate account.

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

#294

Post by IshKebab »

skrebbel wrote: post #72

I'd like to take this opportunity to share with you all that Wero is called Wero because Euro is pronounced "you-ro" and when you share your you-ro it becomes a we-ro.

Hmm Euro is actually pronounced roughly like yeuroh (like voyeur); not you-roh, and by the normal heuristics of English at least Wero would likely be pronounced more like weir-oh than wee-ro.

I guess it doesn't have to be perfect to make a funny name though.

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

#296

Post by BadBadJellyBean »

trashb wrote: post #75
BadBadJellyBean wrote: post #10

Earlier quoted context omitted.

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.

> non of the functionality that PayPal or other services give What functionality are you looking for exactly? I use paypal to transfer money to other accounts & pay for online shopping, possibly in other valuta. In my opinion Wero (earlier I used IDeal) is easier then paypal for this purpose

> What functionality are you looking for exactly?

* Buyer protection

* Obfuscation of my banking data (IBAN)

* Having access to it with my bank

* Not needing to share my contact list

At the moment I don't see much improvement over an instant SEPA transaction. Since both parties will see each other's IBAN anyways with Wero I can just give out my IBAN.

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

#297

Post by ornornor »

1234letshaveatw wrote: post #268
Waterluvian wrote: post #131

Earlier quoted context omitted.

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.

Does the same sentiment apply to TN1 visas? Funny how you never see those burned in protest

Are you kinda alluding that if it was so bad in the US, people wouldn’t be asking for TN1 visas to go work there?

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

#298

Post by pbmonster »

wink wrote: post #18

Totally misleading. Without reading all of it: MAYBE it means: it is/will be enabled for 130m people. And even those of us who have activated it, have hardly used it for the most part, or hve concerns.

No, it's already 130M (out of the ~450M in the EU). Wero's predecessor (iDeal, Bizum, Paylib, Giropay) systems are already widely adapted in their countries of origin and will be fully compatible with it, and Wero itself has had a bit of time to pick up new users on its own by now.

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

#299

Post by kakacik »

culhatsker wrote: post #251
sgjohnson wrote: post #167

Earlier quoted context omitted.

> > 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.

which... isn't really a problem for legal transfers, is it

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

#300

Post by jen20 »

SkeuomorphicBee wrote: post #282
SomeUserName432 wrote: post #219

Earlier quoted context omitted.

> 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.

That is by design. It separates the payment processor so it does just that, just payments. It is like money, once you give it to someone else there is no automatic way to fish it back from their pocket to yours. The correct avenue to deal with fraud, bankruptcy and other malicious actor is the small claims court (or civil court, or criminal court). The moment you start burdening the payment processor with the roles o…

That makes it a bad design, since every person you interact with has the potential to be a scumbag and not deliver on what you paid for. "Get a lawyer and sue them" or "Rely on your local consumer advocacy agency" cannot be the answers at the kind of scale that will be enabled.

This is the reason I only _ever_ spend money on credit cards, and never use cash or debit cards (European in the US). I've personally had at least three disputes this year resolved in my favor by American Express, and will not sign up for something that suggests courts should do so instead.

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