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1174

Europe’s $24 Trillion Breakup With Visa and Mastercard Has Begun (europeanbusinessmagazine.com)

submitted 4 days ago by Beep@lemmus.org to c/technology@lemmy.world

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[–] LedgeDrop@lemmy.zip 11 points 4 days ago (6 children)

From what I've read, it appears that it's simply one time, transactions.

Surely, they couldn't be that short sighted. This means no "saving for payment information" on your favorite online store.

Also, it seems this is heavily tied to your bank account, which kind of makes me a bit nervous. I like fintech solutions and being able to create "one time use debit cards" or debit cards with a maximum balance and at the moment, I don't understand how wero will fill this gap.

... but I really hope I'm wrong or some fintech will "step up" and make wero a legitimate replacement for visa/master card.

[–] Nalivai@lemmy.world 8 points 4 days ago (2 children)

This means no “saving for payment information” on your favorite online store.

Nothing stops them from saving your public token or number or whatever they'll come up with, or even using the current Wero system. My favourite online store can save like twenty different payment system credentials, what's another one.

it seems this is heavily tied to your bank account

No more than visa and mastercard currently. You need a bank to create you your one time debit card. With payment system one time debit card is not needed, because your public facing token isn't enough to make a transaction, so there is no problem here. Which also makes it trivial to implement multiple "wallets" inside the account, or multiple public tokens with different "wallets" associated with it.

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[–] skisnow@lemmy.ca 7 points 4 days ago (4 children)

your favorite online store.

I know it's cliché to call anonymous commenters shills, but that post has major shill energy.

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[–] edgemaster72@lemmy.world 11 points 4 days ago

Love that for EU

[–] Gammelfisch@lemmy.world 8 points 4 days ago (1 children)

Fucking MAGA and Russia are fusing the European Union. Good! As an EU citizen I fully support this type of progress.

[–] Goldholz@lemmy.blahaj.zone 5 points 4 days ago

All it needed once more was for europe to be pushed to a cliff to unkeash their power

[–] iamthetot@piefed.ca 10 points 4 days ago (1 children)

Canada next please.

[–] cygnus@lemmy.ca 8 points 4 days ago (3 children)

We already have Interac, a good homegrown solution. I'm sure it wouldn't be that hard for banks to piggyback on it to make credit transactions rather than debit.

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