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Wero – Digital payment wallet, made in Europe

wero-wallet.eu

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Re: Wero – Digital payment wallet, made in Europe

#81

Post by globalise83 »

pbreit wrote: post #63
dadoum wrote: post #18

Can anyone explain me exactly why it is a suitable alternative to VISA and Mastercard (and why people were waiting for it). I am trying to understand the full picture here, so multiple things come to my mind. First, SEPA instant payments already exist and are really instant up to a certain amount, and I am guessing that Wero builds on top of that a sort of identity layer, to sidestep the whole IBAN thing. But it is l…

The merchant/processor/issuer network with all the correct incentives is (nearly) impossible to replicate. Visa and Mastercard work more or less, perfectly. The only entities that need/want "instant, non-recourse payments" are fraudsters.

In the EU countries with local instant bank payments schemes they are much more popular with consumers than credit cards when paying attrusted merchants, who in turn pay around a quarter in fees of what they'd have to pay for cards. No need for expensive credit cards schemes in Europe any more.

Re: Wero – Digital payment wallet, made in Europe

#82

Post by mlry »

shock wrote: post #36
mzajc wrote: post #7

From what I've gathered, they've decided to make this completely unusable without a Google- or Apple-approved smartphone. Horrible! Are individual banks even allowed to make that an option for clients? Though even if they are, I doubt any will. I would LOVE a PayPal alternative, but this is just not it. -- From https://support.wero-wallet.eu/hc/en-us/articles/25599074240... : > It is not possible to use Wero via a we…

Your link is broken for me. From https://support.wero-wallet.eu/hc/en-us/articles/25599098295... it seems they don't even support phones with developer settings turned on, much less custom ROMs, rooted or jaibroken phones.

It works on a Pixel 6a with GrapheneOS.

Re: Wero – Digital payment wallet, made in Europe

#83

Post by amaccuish »

drnick1 wrote: post #60
Freak_NL wrote: post #28

Earlier quoted context omitted.

It's really simple. You're in the Netherlands, and you are going to buy something in an on-line store. Steam perhaps, or any Dutch retailer. You put the game in your Steam cart, and go to pay. You select Ideal (which Steam provides as an option), you pick your bank, and you follow the on-screen instructions (but you probably do that pretty much automatically). Usually that means scanning a QR code with your bank app…

> Usually that means scanning a QR code with your bank app on your smartphone where you confirm the amount and recipient, but you can use a physical card reader with your debit card for an OTP This seems to be mobile-centric system that essentially requires a cell phone, and probably one blessed by Google or Apple. The app will probably leak a huge amount of meta data, far more than a credit card (especially a privac…

Did you miss the whole part where op talks about using your physical card as an alternative?

Re: Wero – Digital payment wallet, made in Europe

#84

Post by MilaM »

sunaookami wrote: post #31

The problems with Wero is that it needs a linked phone number and nobody can answer what happens if you link two bank accounts from different banks to the same phone number (is this even supported? Why do I NEED to link my phone number?). Also, every bank needs to manually support Wero and when you want to pay online you need to scan a QR code with your phone (yes even on your desktop) and approve it inside your bank…

A phone number (or email) is not strictly necessary [1]. Some banks do indeed require it for the Wero account setup, which in my opinion is a mistake. You only need the additional identifiers if you want to look up other Wero users using your phone's address book to send money P2P without using a QR code.

It's not possible to register the same phone number (or email) at two banks simultaneously. The last registration wins and the associated bank account will switch on the backend when you try this.

Also, EU bureaucrats have little to do with it. Wero is the third attempt by a subset of private European banks to establish a new pan-European payment network.

[1] https://support.wero-wallet.eu/hc/en-us/articles/25599201237...

Re: Wero – Digital payment wallet, made in Europe

#85

Post by amaccuish »

sunaookami wrote: post #31

The problems with Wero is that it needs a linked phone number and nobody can answer what happens if you link two bank accounts from different banks to the same phone number (is this even supported? Why do I NEED to link my phone number?). Also, every bank needs to manually support Wero and when you want to pay online you need to scan a QR code with your phone (yes even on your desktop) and approve it inside your bank…

For me, linking the phone number was optional, I had to choose either phone and/or email.

Re: Wero – Digital payment wallet, made in Europe

#86

Post by cyberpunk »

amaccuish wrote: post #77
cyberpunk wrote: post #65

Earlier quoted context omitted.

Which bank? I work in this space for a large european bank and we wouldn’t be able to do this.

My Volksbank app here in Germany just wants a locked boatloads and no root. Works fine with microg. It's the reason I will never move! Though the Sparkasse is the same actually, unsure about the other german banks

This is great news if it’s true, these regulations are so hazy it’s maddening. Even tho I’m being downvoted I am actually on the side of removing these barriers I was just sharing what I was made to understand by my bank. shrug

Re: Wero – Digital payment wallet, made in Europe

#87

Post by [deleted] »

mzajc wrote: post #7

From what I've gathered, they've decided to make this completely unusable without a Google- or Apple-approved smartphone. Horrible! Are individual banks even allowed to make that an option for clients? Though even if they are, I doubt any will. I would LOVE a PayPal alternative, but this is just not it. -- From https://support.wero-wallet.eu/hc/en-us/articles/25599074240... : > It is not possible to use Wero via a we…

[deleted]

Re: Wero – Digital payment wallet, made in Europe

#88

Post by hocuspocus »

pbreit wrote: post #67
quotz wrote: post #51

Earlier quoted context omitted.

Cards are reliant on US companies -> Visa / Mastercard. The European Payment Initiative wants to remove reliance on the US. Perhaps there can be a ECB payment rail/network that would support cardlike payments too.

So it's mainly a nationalism thing? Is that enough to displace the superior option?

I don't see where card schemes are inherently superior in the age of NFC payments.

There are huge countries (China, India, Brazil, ...) where people moved from cash to mobile payments.

Europe has always been in the forefront of this space, Swish exists since 2012, it's about time we get a pan-European solution.

Re: Wero – Digital payment wallet, made in Europe

#89

Post by tmtvl »

It disgusts me that there's no consumer protection law against 'if you want to use our service you must have an Android or iPhone'. Blue Bikes (rental bicycles) also have this problem and there it's possibly even worse because they used to have a card.
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