European payments groups join forces to challenge US dominance

M95D

It's all based on phone apps, replacing Visa/Mastercard dependency with Apple and Google dependency. Far worse for privacy IMO.

BlackRabbit1

Attempt number 2000?

bilekas

So many people commenting that seem to miss what this is. It's the merging of national systems to simply allow a second option. Meaning no influence oversize from the duopoly. See steam news with visa for an example of then throwing their weight.

petcat

These all require Google or Apple devices both by the seller and the buyer. Wero explicitly does not even support non-Google Android devices. I'm not sure that replacing Visa and MasterCard is really that big of a sovereignty move considering the pervasive dominance American mobile OS tech has. It's a much harder ecosystem to replace.

carlosjobim

And the benefits for users would be?

zb3

They could easily permit GrapheneOS without compromising on security. Not doing so is either a sign of gross incompetence or plain malice.

Diti

Challenging US dominance by implementing your European payment platform on AWS? Weird take…

silon42

I remember when there was Eurocard/Mastercard...

pjc50

One thing I'd like to check: what are the actual exclusion rules for these systems? The Visa/MC threat to anything deemed vaguely adult content is well documented, but what is and is not allowed on Wero?

rswail

This is essentially taking the equivalent of UPI EU-wide. UPI now interoperates with other equivalent new payment platforms in Asia.

esanchma

I use this system daily. It's the spanish/european venmo. In some countries all banks apps are in this system, so it shows which phone contacts are in the system and you can send or request money through that. It's just this nice thing for sending money. Why are you all losing your marbles here?