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wero is a european initiative set up by a consortium of banks that is built layered upon instant payments. it's not a private company like paypal or visa, its a
by rkachowski 5mo ago
wero is a european initiative set up by a consortium of banks that is built layered upon instant payments. it's not a private company like paypal or visa, its an attempt at making European payment infrastructure
- throwaway473825 5mo agoSweden has a similar "initiative" set up by a consortium of banks (Swish), as do many other European countries. Usually these systems raise their fees after being established, sometimes even higher than Visa/Mastercard. Brazil's Pix is something else. It wasn't created by private entities to make money.
- jeroenhd 5mo agoWero's Dutch predecessor, iDEAL, has been an established part of online payments for 20 years now. As barely anyone has a credit card and very people want to deal with the faff of manually entering billing codes or account numbers, iDEAL usage is near universal for online payments. I don't recall fees ever going up as an end customer.
- throwaway473825 5mo agoCard fees aren't paid by end customers either. The Swedish iDEAL equivalent, Swish, is more expensive than cards for smaller transactions (below 15 euros). Wero will be like Swish, not Pix.
- jeroenhd 5mo agoWero is not something that "will be", Wero already is. It used to be called something else for decades, but that doesn't change much.
- pimeys 5mo agoYep. The new thing is that you can pay your groceries with it in the supermarket early next year. What I was reading, you're supposed to be able to send money to people with it this summer, pay in internet shops late this year and supermarkets and restaurants will follow in 2027.