European Credit Card and digital euro is coming, end 2025
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Bye bye Visa, Mastercard, Paypal, and many others. They can go and play "America First".
We'll have our own independent system by november 2025.Without digital euro, there is already Wero app to replace PayPal, Visa and MasterCard. At least in theory... It's a payment app that allows to pay and receive money via wire transfer from bank to bank without fee.
In practice, many banks are not enrolled in this program and I have yet to find a single business where I can pay this way. But at least replacing PayPal to send money to friends and family should be easy enough.
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Without digital euro, there is already Wero app to replace PayPal, Visa and MasterCard. At least in theory... It's a payment app that allows to pay and receive money via wire transfer from bank to bank without fee.
In practice, many banks are not enrolled in this program and I have yet to find a single business where I can pay this way. But at least replacing PayPal to send money to friends and family should be easy enough.
Here in Italy we have Satispay. It is already quite big. I guess there are still some limitations but these are quickly fixed. Direct bank transfers and reduced fees
Satispay -
Without digital euro, there is already Wero app to replace PayPal, Visa and MasterCard. At least in theory... It's a payment app that allows to pay and receive money via wire transfer from bank to bank without fee.
In practice, many banks are not enrolled in this program and I have yet to find a single business where I can pay this way. But at least replacing PayPal to send money to friends and family should be easy enough.
What about Klarna? Isn't it Swedish?
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Here in Italy we have Satispay. It is already quite big. I guess there are still some limitations but these are quickly fixed. Direct bank transfers and reduced fees
SatispayI haven't come across this one. Important difference: Wero is a EU government program, Satispay is operated by a private company.
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I haven't come across this one. Important difference: Wero is a EU government program, Satispay is operated by a private company.
Sure. Wero is interesting because it is an official program but I am worried that it may not be so widespread. Here in Italy I never heard of it. Never seen anyone using it. Maybe it is new?
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Here in Italy we have Satispay. It is already quite big. I guess there are still some limitations but these are quickly fixed. Direct bank transfers and reduced fees
SatispayThere's something similar in Spain called Bizum, created by banking institutions. Most Spanish banks implement it so your phone number is associated to your back account, so you can send and receive money instantly without fees to anyone just by knowing their phone number. Works really well.
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Sure. Wero is interesting because it is an official program but I am worried that it may not be so widespread. Here in Italy I never heard of it. Never seen anyone using it. Maybe it is new?
It is very new, yes
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Bye bye Visa, Mastercard, Paypal, and many others. They can go and play "America First".
We'll have our own independent system by november 2025.Meanwhile my Bank is switching from Maestro (USA) to VISA (USA) for my everyday debit Card, and i must accept the change until September. I guess i have to find a new Bank after so many years.
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Meanwhile my Bank is switching from Maestro (USA) to VISA (USA) for my everyday debit Card, and i must accept the change until September. I guess i have to find a new Bank after so many years.
Why does it matter to you?
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Bye bye Visa, Mastercard, Paypal, and many others. They can go and play "America First".
We'll have our own independent system by november 2025.This is referring to the plans to create digital euro with GNU Taler, right?
GNU Taler (Taxable Anonymous Libre Electronic Resources) is a new secure electronic payment system based on open standards, free software, and advanced cryptography. GNU Taler provides privacy guarantees to the buyer while offering the possibility to audit merchants, making sale incomes transparent and fraud difficult. To online merchants and retailers, GNU Taler offers instant transaction clearance without risks of fake payment methods. Computations needed to clear the payments are efficient and scalable so that banks can pass on lower transaction costs to consumers and merchants. Consumers can withdraw money from their existing bank account into their GNU Taler wallet, detaching their spending habits from scrutiny, in the way cash does.
The NGI TALER project is funded under Horizon Europe (Pilots for the Next Generation Internet) with the aim of bringing GNU Taler to market across Europe.
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Why does it matter to you?
Because i don't want to use Visa for my daily expenses. They get a cut from shops.
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Bye bye Visa, Mastercard, Paypal, and many others. They can go and play "America First".
We'll have our own independent system by november 2025.Digital euro uh, only matters to the government and banks. Lower cost of production I'm sure. No need to store physical cash for banks.
For citizens, it's not like we haven't been using bank cards and apps this whole time. We just have been linking our payments to a bank account we hold digitally on our phones.
So, this isn't a big change for citizens. Just a lower cost for production.
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Because i don't want to use Visa for my daily expenses. They get a cut from shops.
Maestro doesn't take a cut?
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Bye bye Visa, Mastercard, Paypal, and many others. They can go and play "America First".
We'll have our own independent system by november 2025.are we getting closer to what they have in China
where by the flip of a switch, the Government can make anyone a hobo whenever they wish? -
Maestro doesn't take a cut?
Yes, but i want to find something with Girocard. Them changing to Visa means that there are no plans for European EC cards.
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are we getting closer to what they have in China
where by the flip of a switch, the Government can make anyone a hobo whenever they wish?OK. I'm out of this conversation. Nothing can be a positive outcome of this conversation.
So I admit: The European Union is working on the behalf of China, with a hidden authoritarian agenda who wants to make all EU citizens helpless peasants. All actions the EU are taking are not real. They just want to screw us up. I'm moving to the US. Maybe I'll be better off. (note: sarcasm) -
Yes, but i want to find something with Girocard. Them changing to Visa means that there are no plans for European EC cards.
Unfortunately if you want to minimize the amount of money leaving your country you have to pay in cash because the technology behind all other ways of paying are largely supplied by us banks (for now)
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OK. I'm out of this conversation. Nothing can be a positive outcome of this conversation.
So I admit: The European Union is working on the behalf of China, with a hidden authoritarian agenda who wants to make all EU citizens helpless peasants. All actions the EU are taking are not real. They just want to screw us up. I'm moving to the US. Maybe I'll be better off. (note: sarcasm)Someone who phrases a question like that doesn’t want discussion, nothing good can come of engaging indeed
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Unfortunately if you want to minimize the amount of money leaving your country you have to pay in cash because the technology behind all other ways of paying are largely supplied by us banks (for now)
I know, i try, but is not always working.
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Digital euro uh, only matters to the government and banks. Lower cost of production I'm sure. No need to store physical cash for banks.
For citizens, it's not like we haven't been using bank cards and apps this whole time. We just have been linking our payments to a bank account we hold digitally on our phones.
So, this isn't a big change for citizens. Just a lower cost for production.
Not having our cash transaction routed through US services is extremely significant in terms of privacy and autonomy.
