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

lesnumeriques.com

471–480 of 811 posts

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

#471

Earlier quoted context omitted.

Another American here, I find these self loathing kind of posts to be so sophomoric and embarrassing

[flagged]

I find the "self loathing american on the internet" act to be about as performative as putting a pink ribbon on your social media avatar after a shooting. It's not introspective in any meaningful way.

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

#472
If it's p2p transfers why not just use SEPA instant transfers? As for online payments and POS payments, I don't even remember the last time I used a physical card. It's always been Apple pay and I really don't care which card is being used by Apple Pay

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

#473
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…

So now that 8 years have passed since that article was written, do you have any idea how many Canadians have been banned from the US for life because they used marijuana in the past? > credit card data can be stored in the United States, where it’s an open book to U.S. authorities, who don’t need a warrant to access it if it belongs to non-Americans > A U.S. border guard could quickly put a Canadian in an impossible…

This is a _very_ fair criticism and worth pointing out. I thought the piece wasn't particularly alarming and more just showing the opportunity exists, and cursory googles don't show any cases where it happened.

The problem I'm trying to point to is that we cooperate internationally because it benefits both countries or pushes towards a common goal- but when one of the cooperative speaks of turning that cooperation into a weapon, to me, makes it clear that the goal of the cooperation has changed.

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

#474
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…

> should redirect me to my bank Eugh. The problem with that is that people don't verify they've actually been sent to their bank. An attacker will set up fake merchant sites, pay for Google ads to get your traffic, then have you log into your bank to pay for things. The more we normalise this, the quicker people will fall for it.

If they haven't been redirected to their bank, verifying with their mobile banking app using a QR code will not work.

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

#475
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…

Providing credit cards online even by phone for 20 years I have never had any issues, or known anyone who had issues. The few occasions my cards were compromised (all my own fault): a restaurant in Vienna pre Covid when cash was king in Europe, I insisted to use the card and the waiter took it inside lol. Got a 4000k cruise booked a few weeks later. Another time at an ATM in Brazil, I even noticed the suspects around the machines waiting and still went for it. A gas station ATM in NYC. That’s about it. Every time I called the bank and they refunded the money. So what I’m saying is security doesn’t seen to be a big issue in the US when it comes to online transactions with credit cards. Of course this is all subjective from my own experiences, but I’m kind of reckless using cards so I’m probably a good test subject.

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

#476
post #349
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'm just not sure this directly competes with MC/Visa the way the article suggests. Didn't other EU countries already have something similar to iDEAL, as opposed to using credit cards? And now we're just consolidating them? Also, isn't this just about online payments? Who's going to pay for a coffee with either Wero or a credit card? AFAIK most EU consumers use direct debit cards for in-store payments (those countrie…

I can only speak for my countries, but almost all payment terminals now have the option to scan a QR code with your mobile banking app to pay using Wero.

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

#477

Earlier quoted context omitted.

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.

As a former Sanders supporter, it became clear that even though Bernie was likely acting in good faith, the establishment used all of their levers politically and in capital-controlled media to limit him to the role of controlled opposition. Emphasis on "controlled." > ethical capitalists That is not a coherent concept, especially in late stage capitalism.

I caucused for Sanders 2016 in Iowa. He lost the primary fair and square, and was mathematically eliminated before superdelegates even factored into the contest at all. Sanders had zero appeal outside of white, college-educated people like myself, whereas Clinton was very popular with minorities and white, college-educated people. She was just a better candidate for the Democrat primary, and if you want to win the general as a Dem, you have to win the primary first.

Blaming the media, capitalism, Debbie whatshername and insider elites is just Bernie Bro conspiracy theory making excuses for a bad, unpopular candidate.

> late stage capitalism

This is not a coherent concept, it's a term that doomers use to blame all of their bugbears with western society on shadowy cabals of nebulous elites. Ethical capitalism is, in fact, real – Elizabeth Warren, Robert Reich and Teddy Roosevelt are all examples.

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

#478
post #428
post #310

Earlier quoted context omitted.

Considering the head of EZB is a convicted criminal with, lets call it interesting, letters to the convicted criminal Sarkozy I am not sure what is plague and what cholera.

Lagarde is not a convicted criminal. She was convicted for negligence, but this is not a criminal conviction.

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

#479

Earlier quoted context omitted.

[flagged]

As a European, I apologise for this arrogant reply considering how awful Europe has been as an ally over the past 50 years. I promise we will do better and am glad that we're finally trying for once. Now let's see your introspection (:

When I was in the middle east as part of the US Army I really felt like my European friends had my back, no complaints here.

Apologies the other way around, though.

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

#480
Wero started as Paylib [0], a French banks grouping used to provide phone number based payments between banks (and some banks also use it to provide NFC payments on android, instead of Google Wallet).

And also, Wero (unlike something like PayPal), is integrated in your bank's app, for (almost) all participating banks

[0] (Warning: French) https://fr.wikipedia.org/wiki/Paylib

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