PieFed
European Union and Canada plan to link next-gen payment systems, easing transactions
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And so it begins…
plan to announce a deal between competition watchdogs in the EU and Canada “to effectively address anti-competitive conduct”
launch negotiations toward participation in Erasmus+
Align the rules, align education and recognize each other’s qualification and then remove blockades to enable free flow of services and people.
It will be easier than ever to buy products from Israel and illegal settlements. Go team Canada & EU.
Sunshine (she/her)The U.S.’s power over international payments was demonstrated in 2025 when Mr. Trump imposed sanctions on Winnipeg-born International Criminal Court judge Kimberly Prost over her work on a case involving American troops in Afghanistan. The U.S. sanctions left Ms. Prost unable to use most credit cards or multinational services such as Amazon or airlines.
Don’t worry, I’m sure the one we come up with will allow exactly the same thing or worse, but “we’ll” be the ones deciding who to blacklist 😛
iamthetotThat is unironically an improvement.
Absolutely it is, today. But maybe not in the future, and maybe not even that far into the future. As much as people love to trot out the “US has always been bad” line, in 2008 no one in Canada or Europe was worried about US financial control.
It just takes one bad election in Canada, France, or especially Germany, for an EU-linked payment network to oopsie poopsie become just as bad if the technical capability for bad is included.
LemmyoutofhereThen we deal with that then. Don’t let perfect get in the way of good.
Can we just get credit cards that are not American?
Visa and Mastercard etc are essentially middlemen, huge corporations providing the intermediary step between your bank account, and someone elses bank account. If I have understood what the EU is trying to do, it’s not to have our own huge corporation middleman, but to make the direct connection between you and someone else possible, without the huge corporation, across the EU and instantaneous. Maybe there will be plastic cards, maybe not, that part is just authentication.
Yes, they are a huge middleman that take a 3-5% cut of every transaction.
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If this is what it takes to make visa and Mastercard optional when travelling throughout Europe and to Canada, that would be excellent.
Should brexit be left as Brexit though?
Maybe in a hundred years or so. Gotta let the dust settle.
I was hoping this was hoping this was an article about extending Interac to Europe.
Interac is Canadian. Maybe they’ll use it as a base for future transaction systems.
What are the odds Canada joins the EU before the UK rejoins?