News and information from Europe πͺπΊ
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I have high hopes for the Digital Euro.
To have a digital payment medium that is issued by the central bank and can be exchanged without fees as a 1:1 digital equipment of cash would be amazing and go beyond just replacing American credit card providers.
Weβve had Twint for over a decade in Switzerland and itβs adopted everywhere here, I have no idea why every country is cooking their own new system right now.
Pick one that works already and roll it out on the whole continent, itβs not that hard.
Isn't Twint still going through Visa for the in-store purchase? I remember reading it somewhere, but can't find the source for it unfortunately, but in general whenever it is an option I prefer that over other means of payment, the only strange thing is having a separate twint app for each bank lol
Nope, Twint is connected directly to your Bank. Neither Visa, nor Mastercard nor anyone else is playing middleman. Every Swiss Bank has their own Twint App which directly connects to your account.
When you pay at a store or person to person with Twint itβs a direct transaction.
That's Wero. It's basically iDEAL in a new jacket.
And iDEAL is really good. Everyone in the Netherlands uses it.
Because Switzerland is not in the EU and the ECB won't let that happen. They'd rather have the yanks ripping them off than allow real competition.
Protectionism sucks.
I'm pretty sure it's Switzerland that doesn't want to join the EU and not the other way around
Other countries also have their own systems since long.. MBway in Portugal is also more than a decade old.
Taiwan let's you use your metro card to buy stuff at 711. Seems reasonable to expand that out
You would be helping the world by doing this. Until the huge corporations start hurting, he will keep getting away with most of his shit.
Isn't that what WERU is all about; "The service competes with PayPal, credit cards and similar services. "?
It's WERO and afaik they don't issue cards. If you want to make in-store payments you're stuck with visa of mastercard.
visa of mastercard.
If I understand correctly that will be all phased out. #e quote
What will be?
I just edited my comment for clarity.
Portugal already has their own payment processor, even started being exported to Romania
We need a cross-EU one. WERO and Gnu Taler seem like the best candidates. Honestly, Gnu Taler will probably be ignored because banks can't take advantage by invading privacy.
Gnu Taler seems really interesting, if the trial in Switzerland goes well it might have a chance. I'm still hopeful we can have nice things.
Iβd actually rather see many federated solutions with cross-EU interoperability instead of making yet another payment monopoly
Isn't WERO built aroung SEPA Instant Credit Transfer?
Huh, Taler sounds interesting. How does it prevent doublespends?
Why not both? Monopolies for banking aren't a great idea.
Wasnβt that already explained?
Honestly, Gnu Taler will probably be ignored because banks can't take advantage by invading privacy.
They already have it, Gnu Taler.