News and information from Europe πͺπΊ
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Hopefully, Europe will offer options to Americans. I want to enjoy my perverse media, and to oppose christofascist organizations.
Wero lets users send money using just a phone number
No, Wero lets users send money using a smartphone. If there's no desktop interface (like Poland's BLIK) I'm gonna be disappointed. I know India's UPI runs on HMD dumbphones, would be nice to have something like this.
That's a question for your bank. Wero is a system designed for mobile payments between banks, but in 95% of all cases it's your bank implementing it for the user.
problem
Slop title.
The solutions are ready, super cheap, and the transition period gradual & managed.
It is a revenue problem for MasterCard & Visa, bcs no more free monies for them.
fuck em
The article omits that Wero is running on top of AWS. So still the same problem, just slightly lower in the stack.
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.
It's easier to replace AWS with a European alternative, than Visa or Mastercard. So the problem is smaller.
Valid point.
But technically an easier transition to own solutions at some point.
Wero has its roots before the overall critical industry 'digital independence' got enough attention (in the recent year), it was more about solving a specific duopoly (that a lot of banks & startups started solving anyway, just way more fragmented).
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 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.
It's a problem for visa and mastercard, I guess π€·ββοΈ certainly not for Europe...
This guy read the article before he commented, everyone laugh at him!
You're not better: you have read a comment in full before answering to it. Shameful!
Wait, you guys can read?
I can't even write
And my axe!
With this economy!
Fund tranfering should be a gov service provided at cost and maintained as a partnership between nations to make commerce easy for their citizens.
Profit shouldn't even be a concern.
But think of the poor banks and card companies!!
This is the only correct way. An EU-funded open-data, open-government, open-source Project with the whole purpose of building a non-profit alternative to Visa or even PayPal
(gov provided) services should never be for profit
government = people who live in the country. So government services are literally by the people for the people. trying to profit from them is like having a parasite.
Europe just seems to be making all the right moves. Made apple go usb-c. This. Privacy laws. And more.
Good, as an american, fuck em. I cant wait to see the US crash and burn.
You won't have to wait very long
Unfortunately dying empires don't go down quietly
a $24 trillion problem for Visa and Mastercard maybe
Fuck Visa and Fuck Mastercard, they have no business dictating what people are allowed to buy. Just process the fucking payment.
Even without them dictating that having absolute core infrastructure privately owned (and in a foreign country at that) is insane.
Not to mention them being profit driven & expensive.
It's a serious problem, but not for Europe. Fuck US megacorps.
Iβve been using Wero for a while. Whatβs missing are vendors that accept it online, also when hiring a car.
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.
I would much prefer a digital euro based on GNU Taler, but I guess Wero might at least be better than the status quo
It's a $24 trillion opportunity, that Americans are gonna lose.
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!
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.