4 ms·

I think the headline is misleading to the point of being childish. It describes a consolidation of _online_ payment systems that are currently quite fragmented

by jorisw 5mo ago

I think the headline is misleading to the point of being childish. It describes a consolidation of _online_ payment systems that are currently quite fragmented in the EU. It does nothing about in-store payments. Direct debit cards (10x as popular as credit cards in the EU) are often still MC/Visa powered, and the fastest way to pay contactless (even if that is via Apple Pay).

fooyc 5mo ago
Online and in-store payments will follow in 2027, as per the article
- jorisw 5mo ago
  Understood. But even then it couldn't be easier than the contactless direct debit we already have.
  - lentil_soup 5mo ago
    will depend on how it's implemented, you could end up paying via a QR code, contact less NFC, a phone number, the web. I think it could open up a lot of innovation
  - grey-area 5mo ago
    It could be cheaper though and it also reduces the reliance on an untrustworthy former ally.
    - ffritz 5mo ago
      The payer couldn't care less about how much the store pays for the transaction. He or she just wants to tap with their phone, and the default here are Visa/MC cards. In addition to the transaction price not being an argument for the payer, Wero also afaik does not have as much consumer protection as (certainly some) credit cards offer. I also bet the average person doesn't understand or care about the whole political dispute either. Again, they just want to pay easily and safely. I don't think Wero can "win" this from just the merchants side. It's got to be better for the customer's side.
      - grey-area 5mo ago
        The merchant could offer a discount for using it. I agree this could be a difficult battle and we effectively need some alternative to existing card issuers if they are to be displaced. Current contactless payments are easy, secure and allow disputes etc.
        carlosjobim 5mo ago
        "Hey buddy, I give you a tiny tiny discount if you pay without fraud protection..." I mean, some places do that. But for the consumer there is no advantage. It's probably fine at cafés, restaurants and such. But why would you as a consumer want it for any more important purchase? As you mention.
        grey-area 5mo ago
        Yes I think the article is vastly overstating the importance of this payment system, but do not underestimate the importance of the sentiment behind it. The US is done as a global power, all their soft influence is gone, and the EU sees them as an adversary now.
      - tpm 5mo ago
        In addition, this only starts in 13 countries. There are 27 EU members. So there is a lot of big ambitions but not followed by actions. Which is what we are sadly used to. So when I from Slovakia want to buy something in a French eshop, I'm out of luck. And when on a vacation, can't use this system either, while a French person on a vacation in Slovakia can't use it either. My guess is people will mostly continue to use credit/debit cards.
        anygivnthursday 5mo ago
        Doesn't Slovakia already have its own instant QR payment system? Edit: oh, sorry, just realized you talking about international not domestic payments
  - bborud 5mo ago
    We have a similar system in Norway and it works with contactless payment already using the phone. Why would you think that contactless payment would require Visa or Mastercard?
- FinnKuhn 5mo ago
  Only via QR codes as I understand. So no replacement for paying via Apple Watch or card.
tintor 5mo ago
“balkanized” is offensive term
- jorisw 5mo ago
  I wasn't aware. It's meant to refer to every country having a different solution for the same thing, which in the EU is much the case. That said I picked it up from Steve Jobs talking about cable networks in the US.
  - TheRealPomax 5mo ago
    That conveniently ignores the part where it refers to a fracturing where every part is hostile towards each other and unwilling to cooperate on anything. It's not a neutral term, it really is a rather offensive term for everyone from the Balkan today.
    - jorisw 5mo ago
      Understood, I will happily edit it out
    - chrisco255 5mo ago
      It's a historical reference to the events that led to World War 1.
      - TheRealPomax 5mo ago
        No, it is not. Etymology and current use are not the same thing.

by jorisw 5mo ago

fooyc 5mo ago

Online and in-store payments will follow in 2027, as per the article

jorisw 5mo ago
Understood. But even then it couldn't be easier than the contactless direct debit we already have.
- lentil_soup 5mo ago
  will depend on how it's implemented, you could end up paying via a QR code, contact less NFC, a phone number, the web. I think it could open up a lot of innovation
- grey-area 5mo ago
  It could be cheaper though and it also reduces the reliance on an untrustworthy former ally.
  - ffritz 5mo ago
    The payer couldn't care less about how much the store pays for the transaction. He or she just wants to tap with their phone, and the default here are Visa/MC cards. In addition to the transaction price not being an argument for the payer, Wero also afaik does not have as much consumer protection as (certainly some) credit cards offer. I also bet the average person doesn't understand or care about the whole political dispute either. Again, they just want to pay easily and safely. I don't think Wero can "win" this from just the merchants side. It's got to be better for the customer's side.
    - grey-area 5mo ago
      The merchant could offer a discount for using it. I agree this could be a difficult battle and we effectively need some alternative to existing card issuers if they are to be displaced. Current contactless payments are easy, secure and allow disputes etc.
      - carlosjobim 5mo ago
        "Hey buddy, I give you a tiny tiny discount if you pay without fraud protection..." I mean, some places do that. But for the consumer there is no advantage. It's probably fine at cafés, restaurants and such. But why would you as a consumer want it for any more important purchase? As you mention.
        grey-area 5mo ago
        Yes I think the article is vastly overstating the importance of this payment system, but do not underestimate the importance of the sentiment behind it. The US is done as a global power, all their soft influence is gone, and the EU sees them as an adversary now.
    - tpm 5mo ago
      In addition, this only starts in 13 countries. There are 27 EU members. So there is a lot of big ambitions but not followed by actions. Which is what we are sadly used to. So when I from Slovakia want to buy something in a French eshop, I'm out of luck. And when on a vacation, can't use this system either, while a French person on a vacation in Slovakia can't use it either. My guess is people will mostly continue to use credit/debit cards.
      - anygivnthursday 5mo ago
        Doesn't Slovakia already have its own instant QR payment system? Edit: oh, sorry, just realized you talking about international not domestic payments
- bborud 5mo ago
  We have a similar system in Norway and it works with contactless payment already using the phone. Why would you think that contactless payment would require Visa or Mastercard?
FinnKuhn 5mo ago
Only via QR codes as I understand. So no replacement for paying via Apple Watch or card.

tintor 5mo ago

“balkanized” is offensive term

jorisw 5mo ago
I wasn't aware. It's meant to refer to every country having a different solution for the same thing, which in the EU is much the case. That said I picked it up from Steve Jobs talking about cable networks in the US.
- TheRealPomax 5mo ago
  That conveniently ignores the part where it refers to a fracturing where every part is hostile towards each other and unwilling to cooperate on anything. It's not a neutral term, it really is a rather offensive term for everyone from the Balkan today.
  - jorisw 5mo ago
    Understood, I will happily edit it out
  - chrisco255 5mo ago
    It's a historical reference to the events that led to World War 1.
    - TheRealPomax 5mo ago
      No, it is not. Etymology and current use are not the same thing.