PieFed
The EU Seeks to Break Its Dependence on Visa, Mastercard Rails
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https://www.paymentsjournal.com/the-eu-seeks-to-break-its-dependence-on-visa-mastercard-rails/
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Not a second too soon
I work in fintech, and the way VISA and Mastercard (and Amex to a certain degree) just skim every transaction, along with the payment gateways, is disgusting. Online payments should be a national utility or supra-national entity, not-for-profit.
Forgive me as my American-ness is blinding with this question, but what payment types would be the alternatives? Obvioudly cash/physical currency is one, but considering so much of Europe is cashless, I’m very interested to learn what card networks are popular overseas.
There are no real card network alternatives (for now). Some countries have very popular Venmo/ PayPal alternatives and bank transfers now allow for free instant payment in the SEPA network.
The most promissing alternative seems to be Wero but its not that common yet.
This is mentioned about once a week here. European alternatives are systems build by EPA and EPI.
This and Wero in France and Germany.
Well, we use Taler obviously, duh.
On a more serious note I am interested to see how this will turn out as well.