this post was submitted on 02 May 2025
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Europe

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[–] axh@lemmy.world 36 points 1 day ago* (last edited 1 day ago) (1 children)

Can it? Yes.

Will it? Β―\_(ツ)_/Β―

[–] Evotech@lemmy.world 9 points 1 day ago

We are working on it

[–] Observant_Owlbear 13 points 1 day ago (1 children)

There are good solutions and next year will hopefully iterate on that. Read into PSD2 and PSD3.

[–] Evotech@lemmy.world 8 points 1 day ago

Yeah, every single European bank is hard at work implementing these directives. I’ve been working on that myself with many companies

[–] omarthemediocre@lemm.ee 35 points 1 day ago (1 children)

The digital euro project is the only project that has a proper chance of succeeding here because it would be forced on every country using euro. All the other solution usually end at the border of the country of origin or because it is inconvenient for the users so swich to a new solution that has no benefits over paying with Visa or Mastercard. Here is a great video about it: https://youtu.be/1Al3ZIFUQ5U

And here's the official spiel from the central bank.

[–] pantherina 25 points 1 day ago (1 children)

Insane that we rely on random foreign countries for sending money

Paypal, Stripe, Visa, Mastercard, American Express

Not sure about Klarna, but Klarna sucks. Pretty sure they leaked my phone number to a spammer, got a fishing SMS "your Deutsche Bank account needs a login" (I am not using that bank)

[–] GregorGizeh@lemmy.zip 3 points 1 day ago (1 children)

My Sparkasse is pushing WERO, which is supposedly a European PayPal substitute.

[–] Noja@sopuli.xyz 5 points 1 day ago (1 children)

WERO is already set up to fail because it's app only.

[–] RichieRich@lemmy.world 1 points 20 hours ago

Yes, it will fail, but because not every bank is offering it to their customers. There are only a few banks supporting it which is a shame.

[–] SabinStargem@lemmy.today 11 points 1 day ago

I sure hope so.

MasterVisa are run by christofascists. They are really problematic in the adult media sector, denying services to websites unless they adhere to certain restrictions or depictions. For example, no minotaur sex in Seeds of Chaos. Considering the nature of the Trump Regime, you can expect vanilla stuff like gay podcasts to eventually be fully subjected to censorship. The grasping arm of "American" oligarch sensibilities will reach for Europe's people.

For the liberty of everyone, we need payment processors who are disinterested in dictating the culture of their users.

[–] vegantomato@lemmy.world 7 points 1 day ago* (last edited 1 day ago) (1 children)

Although that would be a win, European alternatives are not much better in terms of privacy. If that's something you're looking forward to.

Pretty much all methods of online payment require you to give away your identity in the name of fighting "money laundering" and terrorism (Israel doesn't count). You have a system where the government is constantly trying to reach its tentacles into everything that has to do with finance. The current European payment services are an important part in facilitating that control. A new European debit/credit card is not going to change that.

[–] Halcyon@discuss.tchncs.de 12 points 1 day ago

At least then no longer will be a portion of the money sent out of Europe as commission/fees.

[–] lennee@lemm.ee 94 points 1 day ago (1 children)
[–] WhatAmLemmy@lemmy.world 41 points 1 day ago (1 children)

At this point all American corporations are a threat to global security

[–] lennee@lemm.ee 4 points 1 day ago

at least potentially, yes

[–] henfredemars@infosec.pub 62 points 1 day ago

Absolutely. It’ll take effort, but we probably shouldn’t have these crazy powerful multinational credit card companies.

I write this as a US citizen. They’re way too powerful.

[–] TWeaK@lemm.ee 25 points 1 day ago (1 children)

The EU does already have them under some control. They restrict MC/VISA transaction fees to like 0.3% - literally the day Brexit happened the fees went up to 1.5%. However that was all before covid, no idea what fees are everywhere now.

[–] rollerbang@lemmy.world 5 points 1 day ago

True. Still better to have leftover expenses be left in EU than to "export" them all to USA.

[–] A_norny_mousse 6 points 1 day ago* (last edited 1 day ago)

TIL VISA is actually a US company.

Visa is probably the most common in the EU? We'd need a replacement for that.

... oh, Germany already has it, with 70% marketshare!

[–] Besen 9 points 1 day ago (3 children)

Let's hope Wero can gain some market share. It's still in its infancy, but at least it's doing some things right.

[–] setsubyou@lemmy.world 15 points 1 day ago (2 children)

If I want to use Wero I have to tie my mobile phone number to it and then I can only use that number with that exact bank account and none of my others. Completely useless for me.

They need to come up with something that’s actually good for consumers and not just for the bank’s data gathering aspirations if they want to compete.

[–] Besen 1 points 22 hours ago

Yes, it still has usability problems, as many early stage projects do, but I see them as relatively easy to fix. Getting the market share in online shops will be much harder. Wero's backing is big enough, and they already have experience with digital payment systems, so I am hopeful that they can pull it off.

[–] saimen 6 points 1 day ago (1 children)

I hope the digital Euro will help. It's said to even have an offline function for privacy.

[–] Besen 2 points 22 hours ago* (last edited 21 hours ago)

Yes, the digital Euro looks even better. I was surprised that they would go for privacy (at least more privacy than other digital payment services) and offline transfers. The problem is that it is even further away than Wero. We won't get it until 2028 at the earliest, and I suspect it might take even longer, as many government projects do. Until then, I would rather use a European service than paypal or credit cards. When the digital euro comes, it could arrive with a bang and wipe out a lot of other payment services.

[–] bill38@jlai.lu 7 points 1 day ago (1 children)

There is also a competitor to Wero in Spain, Portugal, Andora, Italy : euroPA

[–] devfuuu@lemmy.world 2 points 1 day ago

MB WAY mentioned! Didn't know about this. good to see they all trying to interoperate.

[–] Lumiluz@slrpnk.net 1 points 1 day ago (1 children)

It'll never be popular in Finland.

Sounds too much like "tax" in Finnish (Vero, which I'm old Finnish is vvero)

[–] GregorGizeh@lemmy.zip 2 points 1 day ago

Maybe just rebrand it then for Finland

[–] ArchmageAzor@lemmy.world 1 points 1 day ago

I heard something a little while ago about an upcoming European card.