3 ms·
This is coming on the heels of many 'domestic schemes' being deprecated. For example, in The Netherlands, all Maestro cards are being replace by Mastercard debi
by bux93 2y ago
This is coming on the heels of many 'domestic schemes' being deprecated. For example, in The Netherlands, all Maestro cards are being replace by Mastercard debit and Visa debit. The benefit is that bank cards will now work seamlessly internationally.
There's no technical reason why Maestro cards couldn't work internationally (and in fact, Brazil was also using Maestro), as it's just a subscheme of Mastercard, which itself conforms with EMV standards. The E- of EMV stands for 'Europay', a defunct european payment scheme.
The EMV standard is mandated in Europe, precisely to ensure competition of new multi-country schemes is possible, so this is a return to form.
- soco 2y agoIf I understand it correctly, Wero is based on the new SCT Insta scheme presented (and discussed here) earlier this year. And it should be compatible with (some of) the existing national schemes, right? Or at least that's what I understand...