European Credit Card and digital euro is coming, end 2025

[reversalhatchery@beehaw.org]

if we can keep using cash mostly anywhere, this is good news

[roserose56@lemmy.ca]

Explain this to my dad, he is almost 60 years old, barely knows how to use his smart phone!
Like others mentioned, last time I saw the news, they where still confused and having conversations. What did it change?

[hotznplotzn@lemmy.sdf.org]

The digital euro won't come before 2028, and even this is not sure as the legislation is not yet approved. Or did I miss something?

(That aside, there are many issues with digital fiat money to be solved yet, including privacy, financial censorship, and other things.)

[Edit typo.]

[synapse1278@lemmy.world]

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.

[samhalfcorpse@feddit.it]

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

[saimen@feddit.org]

What about Klarna? Isn't it Swedish?

[synapse1278@lemmy.world]

I haven't come across this one. Important difference: Wero is a EU government program, Satispay is operated by a private company.

[samhalfcorpse@feddit.it]

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?

[foolhen@lemmy.world]

There'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.

[tja@sh.itjust.works]

It is very new, yes

[nuko147@lemm.ee]

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.

[redex68@lemmy.world]

Why does it matter to you?

[qaz@lemmy.world]

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.

Source: taler.net

[nuko147@lemm.ee]

Because i don't want to use Visa for my daily expenses. They get a cut from shops.

[wanpieserino@lemm.ee]

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.

[con_fig@programming.dev]

Maestro doesn't take a cut?

[androidul@lemmy.world]

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?

[nuko147@lemm.ee]

Yes, but i want to find something with Girocard. Them changing to Visa means that there are no plans for European EC cards.

[wimster@lemmy.wtf]

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)

[huppakee@lemm.ee]

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)