Bye bye Visa, Mastercard, Paypal, and many others. They can go and play “America First”. We’ll have our own independent system by november 2025.

  • SamHalfcorpseEnglish
    8·
    3 days ago

    Here in Italy we have Satispay. It is already quite big. I guess there are still some limitations but these are quickly fixed. Direct bank transfers and reduced fees Satispay

    • Synapse@lemmy.worldEnglish
      13·
      3 days ago

      I haven’t come across this one. Important difference: Wero is a EU government program, Satispay is operated by a private company.

      • biofaust@lemmy.worldEnglish
        4·
        2 days ago

        A private company that is already enshittifying, to be precise. After years of gathering market share by being a zero commissions solution, lately they introduced commissions in some cases higher than what more consolidated payment solutions have.

        • Synapse@lemmy.worldEnglish
          2·
          2 days ago

          This is what makes me hopeful with Wero being a government initiative, but it needs a serious push before it starts to become useful.

          • biofaust@lemmy.worldEnglish
            1·
            2 days ago

            Do we have any documentation about the origin of the infrastructure providers for Wero?

            • Synapse@lemmy.worldEnglish
              1·
              2 days ago

              As far as I understand, it’s nothing more than bank-to-bank transfer, just made easy with links and QR codes instead of typing IBAN in your online banking.

              Wero is an account-to-account (A2A) solution, meaning that transfers will go through almost immediately once approved. It follows the SEPA Instant Credit Transfer protocol established by the European Payments Council in 2017.

              We’re payment, how does week work | checkout.com

      • SamHalfcorpseEnglish
        3·
        3 days ago

        Sure. Wero is interesting because it is an official program but I am worried that it may not be so widespread. Here in Italy I never heard of it. Never seen anyone using it. Maybe it is new?

          • Humanius@lemmy.worldEnglish
            1·
            2 days ago

            Its not really new. Wero is a rebrand of the Dutch iDeal which has been in widespread use for over a decade

            Edit: After trying to find a source for that claim, Im not so sure its correct. The EPI did buy iDeal several years ago, but the text I’m finding doesn’t say Wero is a rebrand of iDeal outright.

            iDeal will be replaced by Wero (either the technology or the branding?) in the NL by 2027

        • Synapse@lemmy.worldEnglish
          3·
          2 days ago

          I learned about it recently myself on Lemmy. Many French banks are enrolled, but only 1 German bank. I hope it can develop, but today it’s practically useless. It needs a serious push from national governments if they want it to succeed.

    • FoolHen@lemmy.worldEnglish
      5·
      3 days ago

      There’s something similar in Spain called Bizum, created by banking institutions. Most Spanish banks implement it so your phone number is associated to your back account, so you can send and receive money instantly without fees to anyone just by knowing their phone number. Works really well.

      • sucius@lemm.eeEnglish
        4·
        2 days ago

        The program has expanded to Italy and Portugal too. The UE will end up mandating Europe wide interoperability among the biggest ones, is my guess