It’s been underway for a while, EPI - European Payments Initiative.
Hopefully I’ll be able to rid myself of my mastercard sometime next year and just rely on Vipps/Wero. Next year is where they roll out point-of-sale across most of Europe.If it relies exclusively on smart phones they can fuck off, they changing one overlord for another one from the same place, except this one is even shittier.
Stop digital ids and age verification.
Seems like it’s Wero again. Which is American-approved smartphone exclusive.
I don’t see it as a replacement for Visa/Mastercard, only possibly Google/Apple pay and things like PayPal.
The US will absolutely panic once this starts to spread.
They will have no control, and no eyes on what Europe does with its money.
Power to the EU.
No doubt they are lobbying hard to bring this to the attention of Jabba the Trump.
Now UK has to step up and join
We’re calling it Super Money.
We’re calling it Super Money And John F. Kennedy Center for the Performing Arts
Trump and data brokers will lash out if people just simply used cash.
nah, all the US government has to do is ask Apple and Google to delist the wero app and it’ll be cooked
digital sovereignty and mandatory locked down rectangles are fundamentally incompatible
That won’t fly. The EU is a massive market for Apple and Google they won’t want to lose.
But hey, I’d love those monopolies to burn too, so be great to see the problem of them highlighted like that.
Digital sovereignty is suddenly a hot topic.
Wero is more like an alternative to Paypal. The Digital Euro is more akin to replacing VISA/Mastercard.
Wero again? It’s a German and French solution, it will never spread to the rest of Europe. Digital Euro is a solution developed by EU.
It’s in Belgium and the Netherlands already what are you talking about
Yes, it’s also in Belgium and Netherlands. That’s it. Read about EPI and EuroPA. It was said so many times here already… People who think Wero is going to expand to other countries are simply uninformed.
That’s the current state of the rollout. Wero is poised to expand to the rest of Europe as well. Source: my job.
Interesting. What about this then?
My understanding is that other countries have implemented different solution long time ago (Bizum, Blik and so on) and will not implement Wero. They agreed to integrate with Wero, meaning that Wero users will be able to send money to Bizum/Blik/other users but banks from other countries will not introduce Wero. Where are you getting your info from that they will? Any public sources about it?
That linkdash article is about how they intend to extend local payment methods and make them cross-border. From my understanding, this will exist alongside Wero, using its infrastructure, but it doesn’t mean that it’s not coming itself.
Exact arrival times on Wero in other countries aren’t known yet (I don’t know them either) but it is in the pipeline. The idea is to start with a smaller core of countries first (born out of the very successful Dutch iDEAL), and from the lessons learned and how it catches on they will determine when it expands further.
I have my info from confidential documents relating to my job that I can’t share I’m afraid.
From what I read banks from other countries aren’t interested in Wero and it’s understandable. For example Spanish banks invested a lot of money into Bizum which they control. Why would they now implement Wero which does the same thing but is controlled by French and German banks? It makes no sense. That was the reason for the initial split between EPI and EuroPA and current agreements only confirm it. They will integrate with Wero but will not put it in their apps directly.
They’re different products, Wero offers features Bizum does not. Ultimately Wero is a product banks can make more money off of so they’re likely to invest eventually. But atm Wero is unproven in the actual market, so it remains to be seen how well it will catch on. That’s why these banks don’t want to make the switch immediately, and prefer this expansion route first. If the consumer demand is there, the banks will follow.
Wero is part of the EPI (European Payments Initiative). It’s going to be a network of all the digital payment apps, so you can use your own app all across Europe.
The problem is that the Italian member is Bancomat, which literally nobody uses (Bancomat is a big company, but they issue debit cards; nobody uses their digital payments service).
In Italy, the most used app is Satispay (which is very similar to Swedish Swish, Danish MobilePay, etc.). So I can’t see this initiative taking traction in Italy at the moment.
Yes, the network will expand through integration but Wero itself will not be adapted by banks from other countries. I don’t know why Wero is getting so much attention on lemmy. We can just as well talk about Polish Blik instead of Wero.
Why do you prefer Digital Euro?
I didn’t say I prefer it. I said that digital Euro is a solution backed by EU. Wero is backed by French and German private banks. There are about 10 solution like Wero currently in EU, all backed by banks from different countries, and Wero is not going to replace any of them.
Advocating for an idea shows that you prefer it.
Stating facts about something is not advocating for it. If I say “Poland used PLN, not Euro”, am I advocating for PLN?
You wouldnt waste your energy writing about how one system is better than another. It’s just a weird “I’m impartial” flex
Interesting. You’re not only the type of a person that can always find some meaning in a comment that’s simply not there, you can also tell what I would and would not spend energy on while knowing absolutely nothing about me. Impressive.
What’s the point with you arguing on this.
Yeah, but will they judge what I buy with it?
All of that free “interest” money from the poor is finally being re-routed to another area of the globe. I wonder if the huge credit card predatory interest rates will be the same? If so, then it’s just a bait and switch and nothing changes.
For the millionth time yes.
Can Americans use it? I want tod itch the Christian censored visa and MasterCard
Wero is based on SEPA, the Single Euro Payments Area, which only covers countries in Europe. In order to use Wero, your bank (in a SEPA country) has to explicitly support it (not all of them do; I have checking accounts with 3 banks and only one of them has announced plans to support it). And to use it when shopping, the merchant also has to support it.
Apparently there are plans to link European and Canadian payment systems. But no way the US will do this.
Unfortunately it’s actually not even a replacement for either of those, only for Google/Apple pay realistically, since you’ll need to use a smartphone like with those. Either an iPhone, or a google-approved Android phone. So no luck I’m afraid.
It depends.
Italy has Bancomat cards, Denmark has Dankort, etc. I can totally see the system being integrated with cards that possibly don’t have any MasterCard/Visa integration at all.
I haven’t heard of anything like that being planned for wero. I suspect nobody wants it because then they can’t force you to install their apps. The EPI is a bunch of banks after all. Private companies.
Americans should support trade unions and cooperatives.
I sure hope this becomes available to Canadians.
it won’t be able to challenge Visa and MasterCard if it isn’t available internationally. European businesses also need ways for foreigners to pay for their services.
Availability depends on adoption. Europeans travel a lot, there’s a strong incentive for it to be offered if the demand is there.
