a $24 trillion problem for Visa and Mastercard maybe
Hopefully, Europe will offer options to Americans. I want to enjoy my perverse media, and to oppose christofascist organizations.
I’ve been using Wero for a while. What’s missing are vendors that accept it online, also when hiring a car.
It’s getting there. Lots of online stores are looking into it now that more banks joined.
Where do we find it? I looked and it’s not on Fdroid or Play Store. Am I blind?
You don’t need a specific app for it. It works by sending a payment link, then you finish the transaction in your own banking environment.
I hope Wero becomes a EU standard. Sadly our banks have their own system Flik bu the issue is you literally cannot use it to pay anywhere. But they refuse tp accept wero due to having their own system.
It’s pretty much clear that it will not. Wero was late and most countries already have their own systems. They all signed an agreement last year to work on integrations. Wero will not replace all of them. Which is good because Wero is controlled mostly by German and French banks.
Well that would work as well. But afaik our current banks have not joined any integration programs it was just a few nations that did. Bit in the end if they all integrate and I am able to use our own system to pay in most pf the EU I don’t really care. As long as it works.
In what country are you?
Slovenia
From what I see it’s not part of EuroPA. I think this is up to date:
So this will cooperate with Germany, France and Belgium which have Wero. Will be interesting to see what other countries will do.
I’m in Romania, and I have never heard of Blik. Maybe it’s behind Revolut’s instant payments or something?
There is a domestic instant payment solution - RoPay - but I’ve never actually used it; my bank does occasionally remind me it exists but I’ve never seen a merchant that accepted it. I would say Revolut’s solution I have started to notice - I’ve used it to pay for flights with WizzAir, for example.
Afaik there is a schedule, atm it’s not EU wide yet.
I’m sure there will be a wide support fairly soon (
2027?oh, it’s already in all the countries they opted in - and it’s per county, not per bank, eg Revolut), especially as Wero gets more adopted for all the things. It’s prob already the biggest of them with 50m users.These local solutions (from banks or startups) will get integrated into the system (imho) as intermediaries offering some additional value (idk, credit payments or whatever).
I hope they do. I wanna be able to start doing online payment via one of these systems
I would much prefer a digital euro based on GNU Taler, but I guess Wero might at least be better than the status quo
I am conflicted on the digital euro. But a mastercard/visa alternative is 100% needed
Honestly I think long term the digital euro will be the killer even if it takes longer than Wero. Wero is nice in the meantime, adoption will probably take till end of the year and next year tho.
Brazil should advertise PIX.
In Spain we use bizum and it is becoming a really fast standard, I have even seen it for online commerce
It’s a serious problem, but not for Europe. Fuck US megacorps.
Fuck Visa and Fuck Mastercard, they have no business dictating what people are allowed to buy. Just process the fucking payment.
Even without them dictating that having absolute core infrastructure privately owned (and in a foreign country at that) is insane.
Not to mention them being profit driven & expensive.
It saddens me that crypto never really became a legit cash replacement. I guess the incumbents are just way too powerful, and Bitcoin kind of got off on the wrong footing.
It hard to replace currency with a speculative commodity.
Government don’t like cryptos, they can’t control them so it’s normal they won’t promote them. But cryptos have come a long way, they are used extensively for cheap cross border transfers and with Proof of Stake we don’t need mining any more (and its problematic energy consumption):
What is a legit and currently in use Proof of Stake cryptocoin?
Ethereum (ETH) and Solana are the most common examples, but there are many more
To be fair, bitcoin is trash and crypto proponents shot themselves in the foot by deciding to stick with it as the “flagship” coin for so long.
Well, being dependent on a central authority wasn’t solved.
And the digital Euro capable of offline transactions (when/if it ever comes) seems just as good.
Crypto did establish itself as a sort of additional alternative value holder tho (like a gold alternative).
Well, being dependent on a central authority wasn’t solved.
Sure it was. The only friction point is cashing out to fiat, but nothing is stopping people from doing that independent of a bank or central authority (see localbitcoin and localmonero)
problem
Slop title.
The solutions are ready, super cheap, and the transition period gradual & managed.It is a revenue problem for MasterCard & Visa, bcs no more free monies for them.
fuck em
And no more data as well. Don’t forget about the consumer data.
Oh, yes, absolutely a valid point!
That has enormous consequences, third parties & data brokers are making a killing & worsen our society.
Break-up? If only… I hate these stupid exaggerated clickbaity titles.
It’s hardly more than a realization of their toxic relationship. But that is indeed the 1st step of change.
Good, as an american, fuck em. I cant wait to see the US crash and burn.
You won’t have to wait very long
Yeah I just worry about the power vacuum left over once this bitch crumbles
Unfortunately dying empires don’t go down quietly
Why? I don’t understand your perspective here. Shouldn’t your interest lie with the country you live in?
Yeah it would be if my country had anything worth saving. The US is an international cess-pit that’s rotting everything it touches. I’ve been lower middle class to broke all my life so this shit collapsing is just another day. I feel bad for the children and elderly but overall the people who will get hurt deserve to have their worldviews shatter while the US crumbles under its own cancerous despotic weight. Too many people in my country are too comfortable sitting idly by while we rape and rob the global south and its time for that to end.
The article omits that Wero is running on top of AWS. So still the same problem, just slightly lower in the stack.
Valid point.
But technically an easier transition to own solutions at some point.Wero has its roots before the overall critical industry ‘digital independence’ got enough attention (in the recent year), it was more about solving a specific duopoly (that a lot of banks & startups started solving anyway, just way more fragmented).
While true, the AWS infrastructure in Europe is somewhat sovereign from the parent company and under stricter regulation and oversight. Granted, it’s not a perfect solution but a good one for the moment.
That’s a lie, just marketing. See the https://en.wikipedia.org/wiki/CLOUD_Act
It’s easier to replace AWS with a European alternative, than Visa or Mastercard. So the problem is smaller.
True, and I also did not mean to let better be the enemy of good. Just that we’re not in the clear yet.
I don’t know much about the payment processors but I would assume Visa and MasterCard run on their own hardware? Or are they also tied to a cloud provider these days?
Centralized problems are generally easier to solve than distributed problems. Depending on their architecture moving to an EU cloud provider could range from tricky but manageable to very painful , but it’s a centralized IT problem that can be attacked and solved. Getting every retail vendor to support Wero is much harder, and is being solved apparently.
Good that the article points out that the US and Chinese providers are already fighting the European alternatives. By occupying other layers of the stack, rendering European digital payment sovereignty impossible. High time to accelerate this!
The real wise move is to use cash whenever possible, folks.
screw that… trade goods/services for goods/services.
much better approach then letting some fatass gobble everything then control everything like now
It’s a $24 trillion opportunity, that Americans are gonna lose.
