Re:Visa and Mastercard: The global payment duopoly (2024)
by norman784 on Friday July 25, 2025 @02:20AM
(#44680142)
The EU is also now pushing WERO
Re:Visa and Mastercard: The global payment duopoly (2024)
by throwaway473825 on Friday July 25, 2025 @03:20AM
(#44680523)
That's a commercial service backed by some European banks. It's not at all comparable with a non-profit service like Brazil's Pix.
The closest EU equivalent would probably be the planned digital euro, but the banks are fighting tooth and nail to prevent that.
Re:Visa and Mastercard: The global payment duopoly (2024)
by ta12653421 on Friday July 25, 2025 @07:01AM
(#44681812)
Not only that - ECB, EU Comission / Council also supporting it.
Though, most of the shares belong to major EU banks, yes.
Re:Visa and Mastercard: The global payment duopoly (2024)
by Cthulhu_ on Friday July 25, 2025 @04:20AM
(#44680908)
Isn't that (and its predecessor iDEAL) basically a layer on top of SEPA transfers though? (not that that's a bad thing)
Re:Visa and Mastercard: The global payment duopoly (2024)
by sofixa on Friday July 25, 2025 @05:19AM
(#44681226)
Kind of, but with easier UX - because a SEPA transfer, which is free and instantaneous, still requires the sharing of a bank account number, while Wero works with QR codes, phone numbers, etc. They're also planning to expand it to NFC payments and online payments.
Re:Visa and Mastercard: The global payment duopoly (2024)
by notpushkin on Friday July 25, 2025 @06:16AM
(#44681564)
You can make a QR code for SEPA transfers: https://www.europeanpaymentscouncil.eu/document-library/guid...
(One of many generators you can try: https://qrcode.tec-it.com/en/SEPA)
Doesn’t seem to be supported too widely though :(
Re:Visa and Mastercard: The global payment duopoly (2024)
by Doxin on Wednesday July 30, 2025 @10:13AM
(#44734494)
Oh that's neat. FWIW the camera on my android phone doesn't understand that QR code, but my banking app does.
Re:Visa and Mastercard: The global payment duopoly (2024)
by yawaramin on Friday July 25, 2025 @10:03AM
(#44683264)
India has UPI (Universal Payment Interface) for instant free transfers. They are working with Singapore to integrate their payment systems so that people will be able to send remittances instantly across the countries.
Re:Visa and Mastercard: The global payment duopoly (2024)
by notpushkin on Friday July 25, 2025 @10:08AM
(#44683303)
Yeah, and some of SEA payment modes already do cross-accept each other actually.
Also Vietnam (Napas247), Singapore (PayNow), Philippines (QR Ph), Japan (lots different systems), China (WeChat/Alipay, I think?), Russia (SBP), Belarus (ERIP, in a sense), and the whole of EU (SEPA transfers).
One problem is, most of them don’t really work for you if you’re a foreigner. Moreta (YC S24) is doing something in SEA, and I’ve seen another service for visitors in India, but I think exchange rates wouldn’t be too good (compared to something like Wise, maybe on par with regular banks though).
https://moretapay.com/, https://ale.sh/r/moreta (affiliate link)
https://wise.com/, https://ale.sh/r/wise (affiliate link)