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    Europe's $24 Trillion Breakup With Visa and Mastercard has begun
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    Europe’s $24 Trillion Breakup With Visa and Mastercard has begun

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    30 Comments

    1. diamanthaende on

      And not a moment too soon.

      High time to address this issue that is filling the coffers of an US duopoly at the expense of European (small) businesses, not to mention the implications of handing over your financial payment services to an increasingly unhinged and unreliable foreign power.

    2. DramaticSimple4315 on

      The easiest business there ever was. Crazy that the EU let itself ransomned for decades, with billions and billions channeled all the way to US retirees on the south Florida coast, for a trivial service any european company could have provided.

      The stupidest thing in all this being that Eurocard was initially a european consortium that let isleft be eaten by mastercard, and that their was the “Carte Bancaire” consortium in France also proposing a payment service.

    5. Chemical_Station_945 on

      Does it work with a Linux phone? Or what if I don’t have a phone or internet connection?

      If it only works with Android and iOS, then it won’t eliminate the dependence on US companies completely.

      But it’s still better if the transaction cost stays in the EU.

    6. Goldenrah on

      If we average a transactional cost from 2 to 3%, at 24 billion dollars (so called trillion in american english) that puts us at 480 to 720 milliard dollars paid out to VISA and Mastercard every single year, going out of the European Union.

    7. Adventurous_Hand3705 on

      We might have been slow to catch on whats happening with the US….but were there now loud and clear

    8. Ironvos on

      While i appreciate the attempt to move away from visa/mastercard, relying on Wero is not really much better. It’s a phone payment app which in turn then relies on google and apple. Bank and payment apps rarely if ever work properly on degoogled phones.

      Also i don’t even use a phone to pay with in shops, it’s clumsy, i do use it at home when i shop online.

    9. lardiannomine on

      This can’t come soon enough. We for sure need a united Europe across all fronts and we cannot afford any longer to have such critical infrastructure depending on a different country.

      It’s a shame that the world gets torn apart and more divided, instead of trying to joint forces towards a peaceful goal, but with the games that US, China and Russia play, there’s just no other alternative.

    10. Kazeninaru on

      Would be very cool is Wero wasn’t such a terrible product. I got problems with everything using it. Very simple features, like seeing the profile of someone who sent me money, so I can send them money back, are missing. Contacts aren’t syncing. I could go on.

    11. Dangerous-LemonBar on

      This will negate a tool used by the US to apply sanctions to Europeans it doesn’t like, such as International Criminal Court justices and certain politicians it disagrees with.

    12. shangriLaaaaaaa on

      Incoming crying from mastercard and visa to papa trump ,when india created their own network card called rupay,they went to papa trump stating Monopoly tactics by india

    14. tischbeinmussweinen on

      >Breakup With Visa and Mastercard

      Look inside:
      Wero

      Wero is basically just a PayPal clone hooked up to your banking app. That’s it. So no “Breakup With Visa and Mastercard” but more like “European Alternative to Paypal”

    16. Honourablefool on

      Digital euro should’ve been implemented right after the 2008 banking crisis. For the lovenof god give us a place to stall our money that isn’t gambling with our savings.

      Now banks are coming with their own payment system hoping we will still be dependent on them. The article says Wero and Deuro aren’t competitors. I don’t think banks view it that way

    17. wowlock_taylan on

      After the whole Steam debacle where they showed THEY can decide what to ban instead of laws, it definitely showed how dangerous and big they have grown and a duopoly.

    21. N19h7m4r3 on

      Hey, standardize Multibanco from PT. It works reasonably well and would be awesome to break the monopoly they have in PT lol

    24. musapha on

      Please please please just use BLIK – native EU system, more convenient than credit cards for one-time payments. Don’t play catchup when we can step up the game.

    28. Limesmack91 on

      Cool, this is the kind of initiatives we need, though i think also offering physical cards would be a plus for a lot of people as well.

      On a side note, they could have done a bit of a better job with their website though

    29. Seethesvt on

      Debt is the only way for billiaires to stay billionaires. There isn’t enough money in the working class to spend like we do without debt. They need us to have debt to find their lifestyle.

    30. Diligent-Ad4777 on

      Yes. Next Stripe and all the other vampires taking a % off every financial transaction.