"It didn’t go unnoticed in Frankfurt that Visa and Mastercard suspended operations in Russia in March 2022 after the invasion of Ukraine……Thirteen of the 20 countries in the euro have no domestic card scheme. You use an international operator, or you pay in cash."
It hasn't gone unnoticed that the US is threatening to invade an EU country's (Denmark) territory, either. Would a future President Trump or President Vance threaten to shut down European financial infrastructure if it opposes an annexation of Greenland? Who knows, but better to take away that opportunity for leverage.
The plan is that you can link it to your bank account or open a special account at post offices throughout the EU. There will be phone apps for payments and digital Euro debit cards. Visa/Mastercard & Apple/Google Pay typically charge 3% fees; the digital Euro will have none. That will ensure it is speedily adopted by retailers and quickly supplants the US providers. Also worth noting its technology will be 100% European only, leaving zero vulnerability/leverage to non-Europeans.
143 Comments
FiniteBanjo@feddit.online · 74 pts · 237d
Ah man, I was kind of excited until it said European-only.
I thought maybe I'd be able to build a till from scratch without purchasing a software suite from IBM written in the 80s.
Right now the best I can do is accept Crypto on such a machine.
9point6@lemmy.world · 53 pts · 237d
I mean, it's gonna ultimately have to work everywhere
People don't like having cards they can't use when they travel
It's not gonna happen right away, but I don't see how it doesn't end up that way
Edit: although reading more it might not be equivalent to the existing kinds of cards as it seems to be a debit only provision (i.e. potentially lacking a lot of the protection you get from using a credit card as your main purchasing card). Will be interesting to see how this evolves
Korhaka@sopuli.xyz · 39 pts · 237d
A lot of people don't even own credit cards here, so that isn't really a massive problem.
kunaltyagi@programming.dev · 12 pts · 237d
A credit card that only works domestically is not a deal breaker. Most of the time, people don't travel abroad. So, using a more advantageous card (more perks, less fees, etc.) domestically makes sense.
Domestic providers are a thing in several countries which are smaller than EU. Some of them don't operate internationally so this news isn't that weird
CallMeAnAI@lemmy.world · 2 pts · 237d
What makes you think this card will actually have more perks or that anybody but merchants get anything here? I get roughly 3-4% in rewards, a $100 travel voucher every year, free dash pass and Lyft memberships. My perks might not be for everyone but there are a ton of good cards out there and this seems to offer the end user few reasons to care.
prodigalsorcerer@lemmy.ca · 6 pts · 237d
Are you in the EU? My understanding is that those rewards are not available in the EU due to their much lower transaction fees. Admittedly, I'm not in the EU, so this is second hand knowledge.
CallMeAnAI@lemmy.world · 1 pts · 237d
No, of that's the case then it's less of a difference.
Ignot@lemmy.world · 5 pts · 237d
For what it's worth, the rewards they give are taken from merchants commissions. It might be great for the cc owner, but it's not very fair
CallMeAnAI@lemmy.world · 3 pts · 237d
Yes I understand. But fairness rarely changes consumers behavior.
SkunkWorkz@lemmy.world · 8 pts · 237d
It’s a public service for people in the EU and businesses operating in the EU paid for by EU taxpayers. So I doubt it will be rolled out outside of the EU. It still cost money to operate the service eventhough it is provided for free. If it ever gets to work outside the EU it will probably only be for people that have EU residency. No way they want to subsidize the transactions for people from outside of the EU with EU tax money.
Damage@feddit.it · 4 pts · 237d
If it works and grows, the service could be SOLD to foreign entities
CallMeAnAI@lemmy.world · 2 pts · 237d
It's DoA unless the EU mandates or coerces end users. There is absolutely zero incentive for anyone but the merchants as far as I can tell.
Damage@feddit.it · 8 pts · 237d
No fees is a great incentive
CallMeAnAI@lemmy.world · 2 pts · 237d
For merchants.
Billygoat@piefed.social · 0 pts · 237d
Yeah, for the merchants. If you were about to pay for €200 of groceries and had this card and a Visa card that gave 3% back, which would you choose to use.
EtnaAtsume@lemmy.world · 10 pts · 237d
Some people have preferences based on morality and values rather than a pittance of insultingly low rewards.
Billygoat@piefed.social · 3 pts · 237d
Yep, with you there but people are people. They will see those rewards and go for it. It is the same reason why the JC Penny campaign to remove flashy sales and discounts and just price items lower failed.
DireTech@sh.itjust.works · 4 pts · 237d
So merchants counter by the EU card getting a 4% discount over credit just like many do these days for cash. It’s easy to beat the rewards rate.
Damage@feddit.it · 2 pts · 237d
Merchants and banks, and you bank may very well incentivise you
RobotToaster@mander.xyz · 3 pts · 237d
Ironically it's EU rules that prevent merchants passing card fees onto customers
olafurp@lemmy.world · 3 pts · 236d
I mean, you absolutely could make a till but you still have to hook it up to a payment provider like Adyen, Stripe or a terminal that handles the payment.
elgordino@fedia.io · 71 pts · 237d
Not in the EU. Visa and Mastercard have been capped to 0.5% for years.
Apple / Google pay take a small cut from the 0.5%
Diversity in payment methods would be no bad thing though. It’s amazing how Visa/Mastercard have managed to insert themselves into almost ever transaction, particularly since contactless became so prevalent.
user224@lemmy.sdf.org · 13 pts · 237d
Aren't there some other fees? Some smaller shops even outright ask if you don't have cash instead.
grandma@sh.itjust.works · 8 pts · 237d
I am completely uninformed on card payment fees but l imagine some if this is because it's easier to underreport cash revenue to tax authorities
Blackmist@feddit.uk · 5 pts · 237d
The merchant will often take a larger amount. For example Square charge 1.75% fees.
The 0.5% is the bit that goes to Mastercard/Visa iirc.
It's never an enormous amount, and if they don't have to let Mr Tax Man know then some small businesses won't.
SabinStargem@lemmy.today · 45 pts · 237d
I hope Americans are allowed to use it. I want to support hentai and to enjoy it without prudes getting in the way.
Rednax@lemmy.world · 13 pts · 237d
The technology is based on the existing Ideal system, which is already in use by the Netherlands. It works via apps from the banks themselves. Hence, you will need an account at an European bank.
CancerMancer@sh.itjust.works · 6 pts · 236d
Balls, guess Canada is stuck using the imperial processors. I'd have loved to use a European government system
ChairmanMeow@programming.dev · 5 pts · 236d
You're confusing Wero with the Digital Euro. This article is about the latter.
Nalivai@lemmy.world · 7 pts · 236d
It comes to America
A bunch of Americans start using it
The provider sees a growing market and likes money.
Some pastor from Iowa sees tits on the Internet and gets offended.
Religious network of nutnobs pays for boycott ad campaign.
Provider silently or not so silently bans everything that can possibly offend christian pastors from the US.
We still need a sane payment provider
chiliedogg@lemmy.world · 7 pts · 236d
Boycotting a service that has no fees doesn't do much.
It reminds me of when I worked in a call center. Asshole, screaming callers would demand to speak to someone else and expect me to be somehow upset that I got to get them off my line.
Nalivai@lemmy.world · 1 pts · 236d
They still benefit from having volumes of money flowing through them, or at least can bendfit if we allow them to be a for profit business.
pupbiru@aussie.zone · 0 pts · 236d
right? like oh you don’t want to use this service that only costs us money? so sad… NEXT!
Nikelui@lemmy.world · 2 pts · 236d
Pastors from Iowa and like-minded censorship lovers from the US are probably not the target customers, so I doubt the efficacy of an eventual boycott.
prole@lemmy.blahaj.zone · 2 pts · 236d
Worked on Steam
Nikelui@lemmy.world · 2 pts · 236d
Steam was pressured by the payment processors, this is supposed to be a solution to the censorship due to the Visa / Mastercard monopoly.
Jhex@lemmy.world · 2 pts · 236d
yes but the point OP is making is that, if it comes to America, this third payment processor will be corrupted by making more money and wind up in the same boat as MC and Visa
Honytawk@lemmy.zip · 1 pts · 236d
Steam is American, not European.
Honytawk@lemmy.zip · 1 pts · 236d
Why do you think some random religious person would have any influence on a payment system from the other side of the planet?
We aren't Americans, we can't just be bought.
Nalivai@lemmy.world · 1 pts · 235d
Ahahah, yeah, and you're also immune to propaganda.
Anafabula@discuss.tchncs.de · 43 pts · 237d
We've been hearing about the Digital Euro for years. Is it finally happening?
IronBird@lemmy.world · 39 pts · 237d
Trump really is the great unifyer, goddamn
faintwhenfree@lemmus.org · 15 pts · 237d
Sorry to be an ass and english is a weird language but it's spelled as unifier, unify doesn't become unifyer. Why? Because it's a piece of shit language that's why.
SabinStargem@lemmy.today · 11 pts · 237d
Unifyer: Portmanteau of Groyper and Unifier. Invented at the end of 2025 CE, it came to represent the abhorrent character of Fascist leaders like Donald Trump uniting opposing political powers that would normally bicker.
faintwhenfree@lemmus.org · 5 pts · 236d
I like that. It should be a thing.
nimpnin@sopuli.xyz · 0 pts · 237d
I’ll be the enlightened centrist here: yes, let’s all try to spell words correctly, and no, do not unpromptedly correct other people’s spelling if you understood what they meant
IronBird@lemmy.world · -5 pts · 237d
if you understood what i was trying to communicate it was spelled correctly
FrederikNJS@sopuli.xyz · 7 pts · 237d
Soo juu dunt tink deres a wright or rong whey too spel wrods?
Petter1@discuss.tchncs.de · 1 pts · 235d
This is how people write with each other in Switzerland 😃 completely phonetic
IronBird@lemmy.world · 0 pts · 237d
nope
FrederikNJS@sopuli.xyz · 3 pts · 237d
Question: true or false?
Answer: yes
👍
davidagain@lemmy.world · 1 pts · 237d
Question: you don't believe in the flying spaghetti monster or that the moon landings were faked?
Perfectly acceptable answer grammatically: No.
nomy@lemmy.zip · 5 pts · 237d
That's not how spelling works.
tehsillz@lemmy.world · 0 pts · 236d
Y u mad tho
SkyeStarfall@lemmy.blahaj.zone · -5 pts · 237d
Eh, it pretty much is. Language is fluid and constantly changing, there isn't really anything "right" or "wrong". What's "correct" in a language is essentially what people speak and write
Sure, you have dictionaries and grammar rules and such, but they're not prescriptive, they're descriptive
nomy@lemmy.zip · 3 pts · 237d
I'm familiar with the argument but I disagree with it. Every person learning a language disagrees with it. And every instructor I've had disagrees with it. The only people who seem to agree are the same people who misuse the language.
davidagain@lemmy.world · 0 pts · 237d
Do you always use literally literally, and are you careful not to talk about the enormity of perfectly innocent large things?
Language changes. People make mistakes. Neither is worth getting too upset about.
SkyeStarfall@lemmy.blahaj.zone · 0 pts · 236d
That's a very strong use of "every". English isn't my primarily language either, you know
And no, in fact, I've heard most people who have a degree en english, linguistics, whatever, to disagree with your position. Language is how it's used, not what it's supposed to be. Otherwise we would always have had one singular language, forever, and no dialects either
FrederikNJS@sopuli.xyz · 3 pts · 237d
Soo juu dunt tink deres a wright or rong whey too spel wrods?
SkyeStarfall@lemmy.blahaj.zone · 0 pts · 236d
Depends on your definition, but so long as it's understandable, yeah
I mean, what are dialects, for example?
IronBird@lemmy.world · 1 pts · 237d
unless your a silly frenchmen, trying to impose order upon chaos
davidagain@lemmy.world · 3 pts · 237d
Can't resist correcting "you're"! Sorry sorry sorry.
UnderpantsWeevil@lemmy.world · 14 pts · 237d
The US-based financial sector fights it tooth-and-claw at every opportunity. I suspect this kind of legislation is an absolute cash-cow for lobbyists across the continent, in the same way the PPACA made a bunch of influential DC firms incredibly rich.
But can the ECB actually deliver on a useful and efficient method of continent-wide banking in practice? Fingers crossed, I guess. I just wouldn't hold my breath.
pupbiru@aussie.zone · 2 pts · 236d
there’s a bunch of FOSS work happening. i believe GNU Taler is specifically this. it’s being funded by the EU
UnderpantsWeevil@lemmy.world · 2 pts · 236d
I hope it sees full implementation
pupbiru@aussie.zone · 1 pts · 236d
and then wide scale adoption across the globe
Quacksalber@sh.itjust.works · 35 pts · 237d
It'll be interesting to see how they'll handle steamy steam games. The whole steam and itch deplatforming saga was kicked off by Visa, Mastercard and Paypal.
SkunkWorkz@lemmy.world · 23 pts · 237d
Won’t have any effect as long as they need to have Visa and Mastercard for other territories. In Europe you can already pay with European payment systems on Steam like iDeal (Dutch) and Trustly (Swedish) and those porn games still got removed in the territories that have those payment options.
Quacksalber@sh.itjust.works · 8 pts · 237d
Yes, but if that european payment provider is less strict, maybe other platforms can fill that gap.
ryannathans@aussie.zone · 6 pts · 237d
Doesn't help us in AU unfortunately
Dagnet@lemmy.world · 5 pts · 237d
Brazil has PIX and steam accepts it, no problems. (pix is a government created payment method that has 0 fees and is basically instant, you never wait for confirmation)
NuXCOM_90Percent@lemmy.zip · 2 pts · 237d
Considering the push for stuff like chat control and the increasingly global lock down on "obscenity":
They'll handle it according to plan.
Like, good. Hurt the US's soft power. But people really should be looking even a foot in front of their faces on this.
vga@sopuli.xyz · 35 pts · 237d
I just bought something from a German online shop. I paid with a direct bank-to-bank transfer, zero fees (as far as I know).
The only problem of course is that this method of payment doesn't have any kind of insurance against fraud, so it works only with already reputable stores. And of course it's usable only in online shops.
ikidd@lemmy.world · 5 pts · 236d
For the love of dog, do not do this with Alibaba sellers if they ask you to. I've never gotten bit but I've heard horror stories.
vga@sopuli.xyz · 2 pts · 236d
Not a problem as I would never buy anything from Alibaba or Temu or any such place.
BanMe@lemmy.world · 5 pts · 237d
The potential for data breach there is much worse than credit/debit, you can't just get a new account number like you can a card if it's breached. You have to close your account or put it on total lockdown.
Aceticon@lemmy.dbzer0.com · 18 pts · 237d
Payment by bank transfers doesn't at all work like credit card payments since you don't give them some kind of information which they can then use to get the money from you.
Instead THEY give you their bank details and you order your bank to transfer money to their account (a process made ever more easy over time and pretty straightforward now with smartphone bank apps which can read QR codes with their bank info).
At most they might get the number of the account the money was transferred from and no further information about it, the kind of information that, if leaked, is pretty much useless (can't be used to get info on who owns that account or how much money is there, much less to get money out from that account).
Maybe some countries have really bad security and secrecy laws around bank accounts, but in those countries in Europe I lived in, the only one where that is maybe the case is Britain, whilst in the rest knowing somebody's bank account number is useless.
The really risky stuff is Debit Cards which are directly linked to your bank account (for example VISA Electron) as those have none of the protections of Credit Cards and do have card data which can be used for distance purchases and hence if leaked would allow access to your accounts. Electronic bank transfers are something completely different from this.
treesapx@lemmy.world · 1 pts · 237d
As I understand it, and in the US at least, debit card protections have caught up with credit cards.
ayyy@sh.itjust.works · 3 pts · 237d
This is mostly true, with the caveat that the money is still missing from your bank account until customer service agrees with you about the fraud and issues you a refund, vs. a credit card where the money is missing from the card issuer’s bank account instead.
rautapekoni@sopuli.xyz · 4 pts · 237d
I'm not sure I understand what the risk in sharing ones bank account number is. You need to share it anyway to receive payments, and at least in my nook of Europe all online bank transfers are verified by two factor authentication.
chunes@lemmy.world · 2 pts · 237d
Why not? Close the account, open another one
jnod4@lemmy.ca · 3 pts · 236d
Yeah let me quickly inform my employer, mortgage issuer, and all the bills to quickly take/give money to another account like it wouldn't take days to get to them
user224@lemmy.sdf.org · 1 pts · 237d
That's about as good as e-mail address. Bank account number is somewhere you can send to.
Maybe, though I am not sure, someone could create a request for Direct Debit payment, but without authorization that's all it is, "please give money".
HubertManne@piefed.social · 30 pts · 237d
I never understood why countries allowed digital payments like this. It effectively is like giving up monetary soverenty. Of course later I realized its because debt has been used for currency creation now.
MisterFrog@lemmy.world · 4 pts · 236d
Wait until you find out about how banks all around the world report to the bloody US IRS...
Hey IRS, how about you fuck off. As the only country who taxes non-residents (the only major country. Just the US and Eritrea...), I don't think it's appropriate for your government to be requiring our banks to hand over personal information.
NorthoftheBorder@lemmy.ca · 25 pts · 236d
We need this for Canada too.
phx@lemmy.world · 10 pts · 236d
That was my first thought. I like every part of the article except the "European only" bit
derpgon@programming.dev · 1 pts · 236d
You are welxome in the EU! Unless US annexes you first...
MisterD@lemmy.ca · 2 pts · 236d
Canada is supposedly in talks with the EU for some kind of association so we might get it too
Knock_Knock_Lemmy_In@lemmy.world · 2 pts · 236d
Nice typo
CanadaPlus@lemmy.sdf.org · 14 pts · 236d
Wow, very cool! Absolute poggers.
Hmm, I should open a European bank account. It could help if I'm every visiting family out there, anyway.
derpgon@programming.dev · 2 pts · 236d
Revolut should work, ask around friends because they give about 80$ bonus if you sign up via referral (to the person you referred, after 3 payments IIRC, but they can send half to you, or all of it).
Sauvandu60@lemmy.ml · 13 pts · 236d
Anything thay weaken visa mastercard is good.
MrSulu@lemmy.ml · 12 pts · 237d
I cannot wait for this to come to fruition. Let's hope that it isn't a privacy cess pit though.
starchylemming@lemmy.world · 4 pts · 237d
credit cards already are
Randelung@lemmy.world · 11 pts · 237d
Holy shit, this is exactly what I was talking to my parents about over Christmas. A wallet in your phone, money lost when stolen, no tracking. This is potentially big.
treesapx@lemmy.world · 3 pts · 237d
The article explicitly states that that might be one option, to have a separate, offline fund that is tied directly to the phone, but it isn't the default and, again, optional. It would help during outages and also have a privacy element for those concerned.
Randelung@lemmy.world · 1 pts · 237d
Yes, that's what I'm hoping for. Fingers crossed!
Barbarian@sh.itjust.works · 3 pts · 237d
That's not what this is. It's not a digital wallet: it's a transfer method. It's essentially the direct equivalent of the virtual debit cards most banks are offering these days.
Randelung@lemmy.world · 1 pts · 237d
It's a wallet, it literally said so in the article. A proposed max of 3000 Euros, with the explicit drawback of losing the money when you lose the phone.
Barbarian@sh.itjust.works · 0 pts · 236d
That's for people who for whatever reason don't use a bank. If you have a bank, it's with your bank.
Blackmist@feddit.uk · 1 pts · 237d
But I don't want my money to be lost when stolen. If I wanted that, I'd carry cash.
Randelung@lemmy.world · 1 pts · 237d
Then use the card for the anonymous account?
davidagain@lemmy.world · 11 pts · 237d
This is excellent. We should never have left the EU.
BoycottTwitter@lemmy.zip · 6 pts · 236d
This article claims there are very initial signs that you might get your wish: https://inews.co.uk/opinion/process-trying-undo-brexit-begun-4106581
I personally can't get over the fact that a 50% majority was all that was needed for such a drastic change. The US despite all its flaws requires more than 50% for certain major things like amending the constitution. Hopefully you can one day rejoin and then make it so it would require a higher threshold like 2/3 majority before another brexit would be possible.
davidagain@lemmy.world · 3 pts · 236d
Thank you.
The UK has more of a set of conventions and principles than a constitution. We found out how weak that is when Boris Johnson broke the rules of Parliament to avoid losing a vote on Brexit, and made the Queen lie about it publicly in the formal announcement of the proroguement.
One of the principles is that no Parliament can bind its successor. For example, there was a fixed term parliaments law from 2010 or so that said that you need a two thirds majority to call an election before five years is up (rather than at whatever time suits the incumbent prime minister); when a new Parliament was elected in 2015, one of the first things they did was rescind that law, with a simple majority.
I worry that Farage, friend to trump and follower of Bannon, will become prime minister and lead us to such destruction that we will write an actual constitution, but that didn't do America any good once the supreme court was stuffed with Republicans loyal to trump.
I think the trick is to not elect tyrants, but Putin's propaganda reaches worldwide and the far right is rising everywhere. Perhaps it really will be global thermonuclear war this time.
mckean@programming.dev · 10 pts · 236d
GNU taler has been working on this, I guess someone just needs to adopt it. https://www.taler.net/en/index.html
_Nico198X_@europe.pub · 10 pts · 237d
let's f'in GOOOO! #YUROP
skozzii@lemmy.ca · 9 pts · 237d
I've noticed a few retailers in Canada charging more for credit cards - debit, cash and cheque are all no extra fee's. The only reason I have a credit card is for the rewards and the necessity for things like hotels and car rentals.
If society could work in our favor and not try to force easy credit on us then we would all be better off.
thermal_shock@lemmy.world · 10 pts · 237d
If everyone wasn't trying to screw everyone else we'd be better off.
ikidd@lemmy.world · 2 pts · 236d
The CC merchant agreements used to prohibit charging the customer for the charges.
Friend of mine that worked at a bank had a furniture store try to do that, she got hold of some muckity-muck at the CC company while the salesperson watched (after warning them that this wasn't how any of that worked), the furniture store had their credit card machines suspended before she left the building. There was copious wailing and gnashing of teeth that she watched with a smile. She refused their offers of a heavy discount to make a phone call again and walked out.
They removed that part a couple years ago from many of the merchant agreements.
tooLikeTheNope@lemmy.ml · 7 pts · 237d
Why using archive link? Yeah well the archive site doesn't work atm...
I guess you meant to link this? https://www.independent.ie/business/digital-euro-what-it-is-and-how-we-will-use-the-new-form-of-cash/a165973061.html
Also official website is:
https://www.ecb.europa.eu/euro/digital_euro/html/index.en.html
user224@lemmy.sdf.org · 13 pts · 237d
Because the archive link gets around the paywall. Unless you don't see the paywall because it doesn't apply to your region, but I only see the requirement to subscribe.
However the archive link does work for me.
tooLikeTheNope@lemmy.ml · 1 pts · 236d
No I wasn't even aware of the paywall, uBlock+Bypass Paywall Clean sent me straight to the article. As someone else commented the archive link is blacklisted on some DNS, my ISP's ones too it appears.
Anyway the official link to the European Central Bank had all the relevant info.
Also I've seen the same link posted on reddit by at least 3 different users...
AlsaValderaan@lemmy.blahaj.zone · 2 pts · 236d
I've noticed that different mirrors of this service have been getting dns blocked. You should be able to swap out the hostname or use a different DNS provider to make it work.
tooLikeTheNope@lemmy.ml · 1 pts · 236d
Oh thank you! Tried that, indeed my ISP DNS weren't able to resolve the host
flango@lemmy.eco.br · 6 pts · 237d
Pix neles
flyhunter@lemmy.world · 3 pts · 236d
Suddenly caralho
D_C@sh.itjust.works · 6 pts · 237d
If it was viable then I'd sign up asap.
coriza@lemmy.world · 5 pts · 236d
The article didn't mention but I hope they decide to implement Brazil's Pix. It was featured in some international news recently, hope there is interest then we will march forward for a unified system outside the swift network and without duplicated efforts. And about not being 100% European, I don't know the details but inside Brazil it is mediated by the Brazilian central bank but a 5min Google indicated that a standard international solution is still in development but it will work like a network of central banks, so the EU or even each country in the EU own system keep its independence. And as a network/federated system it would also be more stable since no one unilaterally can mess with it.
AnUnusualRelic@lemmy.world · 3 pts · 236d
Extremely unlikely. It should be wero, most likely.
Eyekaytee@aussie.zone · 5 pts · 237d
why not share with australia :(
chaosCruiser@futurology.today · 6 pts · 237d
If Australia joins the EU…
Eyekaytee@aussie.zone · 4 pts · 237d
I wish !
Axolotl_cpp@feddit.it · 4 pts · 237d
Because Australia is not in the EU
Suffa@lemmy.wtf · 3 pts · 237d
Because we already have this and have for 45 years with eftpos and debit cards?
Eyekaytee@aussie.zone · 3 pts · 237d
We do not, eftpos does not go over the net
EFTPOS is a direct bank-to-bank transfer system, but online payments usually involve a payment gateway (like Stripe, PayPal) to process card details securely.
The only options we have to pay online are visa/mastercard/etc (eg. the same as Europe which is why they invented the Digital Euro) we don't have anything equivalent and as far as I know have no plans to replace this system
I have seen https://azupay.com.au/ using payid to pay for things over the net like flight tickets etc but 99% of online payments go through visa/mastercard
Europes version of EFTPOS is SEPA which is not what the digital euro is
More info on the digital euro here:
Goodbye Visa & Mastercard? The Digital Euro Explained
https://www.youtube.com/watch?v=CzkVBXDhTwY
phonics@lemmy.world · 1 pts · 237d
Except for the surcharge on weekends and public holidays of course.
Raiderkev@lemmy.world · 4 pts · 236d
King shit. Wish our leaders gave anywhere near a shit to do this in the US.
paperazzi@lemmy.world · 3 pts · 236d
The world is changing incredibly fast. Change is scary but I'm loving the speed and intelligence the world's leaders are adapting to the US threats.
raspberriesareyummy@lemmy.world · 3 pts · 237d
And it will be app-only, forcing use of evilland corporation stores. Fuck that.
Damage@feddit.it · 14 pts · 237d
Read the article before spreading disinformation.
raspberriesareyummy@lemmy.world · -3 pts · 237d
I don't think you know how a "digital-euro card" is going to be implemented. Are you really so naive to believe it will work without a non-free application running from either your phone or your computer?
Damage@feddit.it · 6 pts · 237d
And you do?
Randelung@lemmy.world · 7 pts · 237d
Improvements are incremental. Expecting perfect is stupid.
Besides, there's a card.
raspberriesareyummy@lemmy.world · -4 pts · 237d
It's not an improvement. An improvement would be to offer EU-wide exactly what iDEAL was in the Netherlands. There was no need to change anything about the iDEAL system, no need for an extra app, no need for another card, just your regular bank account and any web browser + whatever transaction number solution you had.
This proposal is not an improvement, it's another step into a totalitarian regime where every single transaction is tracked by the war criminal and pedo-criminal monsters in our governments.
Randelung@lemmy.world · 5 pts · 237d
The wallet is supposed to be tracking free and offline, without an account at a bank. That's an improvement.
raspberriesareyummy@lemmy.world · 0 pts · 237d
We already have offline and without a bank account, it's called cash. Also, offline & without a bank account can be stolen.
Randelung@lemmy.world · 2 pts · 237d
Yes, and cash online is famously difficult.
If you don't want to lose the digital cash, use the anonymous card they propose.
starchylemming@lemmy.world · 2 pts · 237d
lmao back to square one with extra steps ?
well its still a win if visa and mastercard lose just a little money
raspberriesareyummy@lemmy.world · -7 pts · 237d
From the article:
This lady is either completely shameless in lying to people's faces, or she is very, very stupid.
RedGreenBlue@lemmy.zip · 1 pts · 237d
Seems everything these days are tied to a phone. Even when there is no need for it or convenient.The day we loose wide access to smartphones, society is fucked.
raspberriesareyummy@lemmy.world · 0 pts · 237d
If that ever happened, I think the opposite would be true. We would have a chance to heal, and all those morons thriving on mobile applications would hopefully go bankrupt and become meaningless.