When? This has been happening for many years now. Slower than turtle.
Yes… When please :(
I mea, they did release Wero
Which does nothing for point of sale at present, it is only vaguely ‘planned’.
In Europe we didn’t really rely on credit cards for online payments anyway. It was an option but far from the only one. The problem was just that each country had their own system which was a PITA. Wero unifies those. Handy for webmasters, but geopolitically not a gamechanger.
The big problem is PoS payments where MC/Visa are king and basically have a duopoly. I don’t know why Wero didn’t start with the elephant in the room.
Yes, Wero is there it is made up of consortium of banks and not unified interface. Also, the adoption itself is very poor.
Where? On what platform? How can one install and use such a thing?
I don’t see how breaking up with US payment systems is a problem, let alone a 24 trillion problem. Sounds like something good. The article (don’t laugh, but I have read it) states the same.
Because its relative. Its good for the EU because it’s taking that market back, its bad for the US because its losing that market.
The article omits that Wero is running on top of AWS. So still the same problem, just slightly lower in the stack.
Yes but this is a simple migration away. The system itself and its adoption are far bigger barriers.
AWS
Also, when Wero started, Trump hadn’t started to set the world on fire yet, so the geopolitical angle was far less pronounced. Until Jan 2025, hosting an EU service on AWS was not controversial.
Centralized problems are generally easier to solve than distributed problems. Depending on their architecture moving to an EU cloud provider could range from tricky but manageable to very painful , but it’s a centralized IT problem that can be attacked and solved. Getting every retail vendor to support Wero is much harder, and is being solved apparently.
While true, the AWS infrastructure in Europe is somewhat sovereign from the parent company and under stricter regulation and oversight. Granted, it’s not a perfect solution but a good one for the moment.
I don’t know much about the payment processors but I would assume Visa and MasterCard run on their own hardware? Or are they also tied to a cloud provider these days?
From a few IPs that I checked, all were served by ASN2559 which would belong to Visa directly. They seem to have a lot of services according to shodan
MasterCard is ASN26380 and has a smaller footprint on shodan, but still many hits
So both seem have their own data centers. Doesn’t mean, that they won’t use AWS/Azure/GCP/… if they see a benefit.
I’ve been using Wero for a while. What’s missing are vendors that accept it online, also when hiring a car.
That is somewhat unsurprising since it is a rebranding of the Dutch iDeal system which now is being rolled out elsewhere in the EU.
Honestly I think long term the digital euro will be the killer even if it takes longer than Wero. Wero is nice in the meantime, adoption will probably take till end of the year and next year tho.
I hope Wero becomes a EU standard. Sadly our banks have their own system Flik bu the issue is you literally cannot use it to pay anywhere. But they refuse tp accept wero due to having their own system.
Where do we find it? I looked and it’s not on Fdroid or Play Store. Am I blind?
You don’t need a specific app for it. It works by sending a payment link, then you finish the transaction in your own banking environment.
I realised my mistake. This is about payment processors like Visa, Stripe, whatever else, not banks themselves.
I got a bit mind-boggled :-)
It’s a $24 trillion opportunity, that Americans are gonna lose.
Europe just seems to be making all the right moves. Made apple go usb-c. This. Privacy laws. And more.
Some right moves, sure.
Good, as an american, fuck em. I cant wait to see the US crash and burn.
You won’t have to wait very long
Yeah I just worry about the power vacuum left over once this bitch crumbles
If my country still exists in 2028 there may be hope yet
Unfortunately dying empires don’t go down quietly
Why? I don’t understand your perspective here. Shouldn’t your interest lie with the country you live in?
Yeah it would be if my country had anything worth saving. The US is an international cess-pit that’s rotting everything it touches. I’ve been lower middle class to broke all my life so this shit collapsing is just another day. I feel bad for the children and elderly but overall the people who will get hurt deserve to have their worldviews shatter while the US crumbles under its own cancerous despotic weight. Too many people in my country are too comfortable sitting idly by while we rape and rob the global south and its time for that to end.
Break-up? If only… I hate these stupid exaggerated clickbaity titles.
It’s hardly more than a realization of their toxic relationship. But that is indeed the 1st step of change.
Good that the article points out that the US and Chinese providers are already fighting the European alternatives. By occupying other layers of the stack, rendering European digital payment sovereignty impossible. High time to accelerate this!
Brazil should advertise PIX.
Norway have BankAxept. I’ve waited for this. Cut ties!
The real wise move is to use cash whenever possible, folks.
screw that… trade goods/services for goods/services.
much better approach then letting some fatass gobble everything then control everything like now
It saddens me that crypto never really became a legit cash replacement. I guess the incumbents are just way too powerful, and Bitcoin kind of got off on the wrong footing.
It hard to replace currency with a speculative commodity.
and Bitcoin kind of got off on the wrong footing.
The only cryptocurrency worth its salt is Monero, guess why it’s being chased off of most exchanges?