1454
Europe’s $24 Trillion Breakup With Visa and Mastercard Has Begun
(europeanbusinessmagazine.com)
great news
we need more alternatives to Visa and Mastercard.
this post was submitted on 10 Feb 2026
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From what I've read, it appears that it's simply one time, transactions.
Surely, they couldn't be that short sighted. This means no "saving for payment information" on your favorite online store.
Also, it seems this is heavily tied to your bank account, which kind of makes me a bit nervous. I like fintech solutions and being able to create "one time use debit cards" or debit cards with a maximum balance and at the moment, I don't understand how wero will fill this gap.
... but I really hope I'm wrong or some fintech will "step up" and make wero a legitimate replacement for visa/master card.
This means no “saving for payment information” on your favorite online store.
Nothing stops them from saving your public token or number or whatever they'll come up with, or even using the current Wero system. My favourite online store can save like twenty different payment system credentials, what's another one.
it seems this is heavily tied to your bank account
No more than visa and mastercard currently. You need a bank to create you your one time debit card. With payment system one time debit card is not needed, because your public facing token isn't enough to make a transaction, so there is no problem here. Which also makes it trivial to implement multiple "wallets" inside the account, or multiple public tokens with different "wallets" associated with it.
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your favorite online store.
I know it's cliché to call anonymous commenters shills, but that sentence has major shill energy. Who says "your favourite online store", honestly.
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Fucking MAGA and Russia are fusing the European Union. Good! As an EU citizen I fully support this type of progress.
All it needed once more was for europe to be pushed to a cliff to unkeash their power
Canada next please.
We already have Interac, a good homegrown solution. I'm sure it wouldn't be that hard for banks to piggyback on it to make credit transactions rather than debit.
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Love that for EU
How to make this competitive vs. current, American owned networks?
Put a microtax in every financial transaction going out of the EU.
Europe’s $24 Trillion
Great, now nobody knows how much that is (other than a lot).
Is there any way to use wero without handing out my mobile phone number to everyone? I'd prefer handing over IBAN or some alias over phone number.
Wero is basically just SEPA real time transactions under the hood, so you can just use your bank app to transfer via IBAN.
that means it's almost useless then, because SEPA offers absolutely zero fraud protection. Once you sent the money, it's impossible to get it back even if you contact the bank 1 second later.
Exception: some hacker did some social engineering and posing as the ministry of defense, persuaded one of the richest men in italy to send him a bribe via SEPA. In that case the banks were able to reverse it one week after. Normal people instead gets only a FUCK YOU.
I read that there also are lots of concerns regarding privacy of data. It apparently collects lots of your data and interactions and shares it with third parties for publicity and so. And they're not transparent at all on this point.
What's the point of having a European app if it behaves worst than GAFAM?
Anyway, I don't know how much is rumour, how much is true. Does anybody have more information?
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