- cross-posted to:
- BoycottUnitedStates@europe.pub
- cross-posted to:
- BoycottUnitedStates@europe.pub
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Can it? Yes.
Will it? ¯\_(ツ)_/¯
We are working on it
Yeah, every single European bank is hard at work implementing these directives. I’ve been working on that myself with many companies
Insane that we rely on random foreign countries for sending money
Paypal, Stripe, Visa, Mastercard, American Express
Not sure about Klarna, but Klarna sucks. Pretty sure they leaked my phone number to a spammer, got a fishing SMS “your Deutsche Bank account needs a login” (I am not using that bank)
My Sparkasse is pushing WERO, which is supposedly a European PayPal substitute.
WERO is already set up to fail because it’s app only.
Yes, it will fail, but because not every bank is offering it to their customers. There are only a few banks supporting it which is a shame.
The digital euro project is the only project that has a proper chance of succeeding here because it would be forced on every country using euro. All the other solution usually end at the border of the country of origin or because it is inconvenient for the users so swich to a new solution that has no benefits over paying with Visa or Mastercard. Here is a great video about it: https://youtu.be/1Al3ZIFUQ5U
And here’s the official spiel from the central bank.
I sure hope so.
MasterVisa are run by christofascists. They are really problematic in the adult media sector, denying services to websites unless they adhere to certain restrictions or depictions. For example, no minotaur sex in Seeds of Chaos. Considering the nature of the Trump Regime, you can expect vanilla stuff like gay podcasts to eventually be fully subjected to censorship. The grasping arm of “American” oligarch sensibilities will reach for Europe’s people.
For the liberty of everyone, we need payment processors who are disinterested in dictating the culture of their users.
Although that would be a win, European alternatives are not much better in terms of privacy. If that’s something you’re looking forward to.
Pretty much all methods of online payment require you to give away your identity in the name of fighting “money laundering” and terrorism (Israel doesn’t count). You have a system where the government is constantly trying to reach its tentacles into everything that has to do with finance. The current European payment services are an important part in facilitating that control. A new European debit/credit card is not going to change that.
At least then no longer will be a portion of the money sent out of Europe as commission/fees.
could and should
At this point all American corporations are a threat to global security
at least potentially, yes
Absolutely. It’ll take effort, but we probably shouldn’t have these crazy powerful multinational credit card companies.
I write this as a US citizen. They’re way too powerful.
TIL VISA is actually a US company.
Visa is probably the most common in the EU? We’d need a replacement for that.
… oh, Germany already has it, with 70% marketshare!
The EU does already have them under some control. They restrict MC/VISA transaction fees to like 0.3% - literally the day Brexit happened the fees went up to 1.5%. However that was all before covid, no idea what fees are everywhere now.
True. Still better to have leftover expenses be left in EU than to “export” them all to USA.
Let’s hope Wero can gain some market share. It’s still in its infancy, but at least it’s doing some things right.
If I want to use Wero I have to tie my mobile phone number to it and then I can only use that number with that exact bank account and none of my others. Completely useless for me.
They need to come up with something that’s actually good for consumers and not just for the bank’s data gathering aspirations if they want to compete.
Yes, it still has usability problems, as many early stage projects do, but I see them as relatively easy to fix. Getting the market share in online shops will be much harder. Wero’s backing is big enough, and they already have experience with digital payment systems, so I am hopeful that they can pull it off.
I hope the digital Euro will help. It’s said to even have an offline function for privacy.
Yes, the digital Euro looks even better. I was surprised that they would go for privacy (at least more privacy than other digital payment services) and offline transfers. The problem is that it is even further away than Wero. We won’t get it until 2028 at the earliest, and I suspect it might take even longer, as many government projects do. Until then, I would rather use a European service than paypal or credit cards. When the digital euro comes, it could arrive with a bang and wipe out a lot of other payment services.
There is also a competitor to Wero in Spain, Portugal, Andora, Italy : euroPA
MB WAY mentioned! Didn’t know about this. good to see they all trying to interoperate.
It’ll never be popular in Finland.
Sounds too much like “tax” in Finnish (Vero, which I’m old Finnish is vvero)
Maybe just rebrand it then for Finland
I heard something a little while ago about an upcoming European card.
