News and information from Europe πͺπΊ
(Current banner: La Mancha, Spain. Feel free to post submissions for banner images.)
(This list may get expanded as necessary.)
Unless they're the only sources, please also avoid The Sun, Daily Mail, any "thinktank" type organization, and non-Lemmy social media (incl. Substack). Don't link to Twitter directly, instead use xcancel.com. For Reddit, use old:reddit:com
(Lists may get expanded as necessary.)
We will use some leeway to decide whether to remove a comment.
If need be, there are also bans: 3 days for lighter offenses, 7 or 14 days for bigger offenses, and permanent bans for people who don't show any willingness to participate productively. If we think the ban reason is obvious, we may not specifically write to you.
If you want to protest a removal or ban, feel free to write privately to the admin that applied the rule (check modlog first to find who was it.)
I don't see how breaking up with US payment systems is a problem, let alone a 24 trillion problem. Sounds like something good. The article (don't laugh, but I have read it) states the same.
This guy read the article before he commented, everyone laugh at him!
You're not better: you have read a comment in full before answering to it. Shameful!
Wait, you guys can read?
I can't even write
Thanks for asking, the weather is pretty nice today.
It's a problem for visa and mastercard, I guess π€·ββοΈ certainly not for Europe...
I feel like whoever wrote the headline fucked it up, because the article reads more like that Visa/MasterCard payments are a 24 trillion problem, and wero is a potential solution.
Fund tranfering should be a gov service provided at cost and maintained as a partnership between nations to make commerce easy for their citizens.
Profit shouldn't even be a concern.
(gov provided) services should never be for profit
government = people who live in the country. So government services are literally by the people for the people. trying to profit from them is like having a parasite.
For bank transfers this is already a thing, it's called SEPA. Transfers are instant and free (to the user at least, no idea if the banks have to pay).
But yes, there should be an equivalent thing for in-person payments too.
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.
When? This has been happening for many years now. Slower than turtle.
Yes.. When please :(
I mea, they did release Wero
Which does nothing for point of sale at present, it is only vaguely 'planned'.
In Europe we didn't really rely on credit cards for online payments anyway. It was an option but far from the only one. The problem was just that each country had their own system which was a PITA. Wero unifies those. Handy for webmasters, but geopolitically not a gamechanger.
The big problem is PoS payments where MC/Visa are king and basically have a duopoly. I don't know why Wero didn't start with the elephant in the room.
Yes, Wero is there it is made up of consortium of banks and not unified interface. Also, the adoption itself is very poor.
The article omits that Wero is running on top of AWS. So still the same problem, just slightly lower in the stack.
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.
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.
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).
Wero lets users send money using just a phone number
No, Wero lets users send money using a smartphone. If there's no desktop interface (like Poland's BLIK) I'm gonna be disappointed. I know India's UPI runs on HMD dumbphones, would be nice to have something like this.
That's a question for your bank. Wero is a system designed for mobile payments between banks, but in 95% of all cases it's your bank implementing it for the user.
Iβve been using Wero for a while. Whatβs missing are vendors that accept it online, also when hiring a car.
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.
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
It's getting there. Lots of online stores are looking into it now that more banks joined.
Hopefully, Europe will offer options to Americans. I want to enjoy my perverse media, and to oppose christofascist organizations.
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's a $24 trillion opportunity, that Americans are gonna lose.
a $24 trillion problem for Visa and Mastercard maybe
It's a serious problem, but not for Europe. Fuck US megacorps.
Good, as an american, fuck em. I cant wait to see the US crash and burn.
Europe just seems to be making all the right moves. Made apple go usb-c. This. Privacy laws. And more.
In Spain we use bizum and it is becoming a really fast standard, I have even seen it for online commerce
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!
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.