Em 3d ago

What are your recommendations for an alternative to PayPal and Stripe?

Which services offer similar products, but with better practices in regard to data privacy and data residency?

#Privacy #PayPal #Stripe #FOSS #Floss

Show threadEm 3d ago
The fact that only 2 American companies have a monopoly on such a large portion of online payment processing worldwide is problematic, to say the least.
Show threadDormouse3d ago
@Em0nM4stodon Monero solves this.
Show threadEm 3d ago
@dormouse759 Many people don't have enough money to invest in digital currencies. Unfortunately this isn't an accessible solution.
Show threadDormouse

@Em0nM4stodon you can always only buy what you're gonna use.
You know, it's a currency, don't invest in money. It's a stupid idea.

It's basically like saying that you can't accept Euro because not everyone has money to invest into foreign currencies. You only need to transact the amount you would pay anyway. (You can put some small discount to compensate for fees. I've seen people doing exactly that.)

May 25 at 5:17pmWeb
Show threadDormouse3d ago
@Em0nM4stodon you can't make a free (or at least privacy respecting) platform built on foundation of non-free technology (state money, FIAT), state is threatening companies with deletion if they don't log you. (KYC)
Show threadEm 3d ago
@dormouse759 For this to be accessible at this time, there would need to be a system that can ask buyers to enter their credit card information on a page and automatically convert this amount in digital currency to cover only the payment for them on the same page. Does a direct service like this exist?
Show threadDormouse3d ago
@Em0nM4stodon why not store on your own wallet and keep pennies for later?
Show threadEm 3d ago
@dormouse759 This is on a seller's point of view. Sellers need to be able to also accept credit card payments, and not just digital currencies.
Show threadDormouse3d ago

@Em0nM4stodon credit card payment *is* a digital currency.

And I have no knowledge on handling cash.

Show threadrichh3d ago
@dormouse759 @Em0nM4stodon Credit card payments are NOT “digital currency”. They involve a fiat currency backed by a government and commercial transaction processors will be heavily regulated by their local financial body (e.g. the Prudential in the UK). You’re digitally transacting a fiat coin. Completely different to the Wild West of cryptocurrency (including Monero).
Show threadDormouse3d ago

@richh @Em0nM4stodon I am only going to comment with a joke. I don't feel evil today and don't wanna lose time on arguing over which we are clearly of opposite opinion.

"American scientists figured out how a fascist regime comes to existence."

And I'm going to attach an opinion which you probably don't agree with and is the reason why I wouldn't argue:

We need to reduce the influence of the government and corporations, not enforce it.

Show threadrichh3d ago
@dormouse759 @Em0nM4stodon You’re entitled to your opinion on crypto, and we certainly need to reduce the influence of corps. But don’t call a £/€/$ card transaction “digital currency” - that is objectively false. It’s a digital transaction of a fiat currency, completely different to a crypto coin defined digitally rather than by some committee or (quasi-)governmental body.
Show thread🔶Mark Nicoll 3.5%🏴󠁧󠁢󠁥󠁮󠁧󠁿🇬🇧🇪🇺🇺🇳2d ago
@dormouse759 @Em0nM4stodon
I can find a good deal on Euros by comparing exchange rates fom multiple scources, checking commission rates & choosing from dosens of financial institutions that deal in traditional currency exchange. Or if I'm feeling lazy I can use my bank card to make payment directly in Euros and let my bank handle the currency exchange for a premium fee.
I also trust the ECB, that my Euros will retain roughly the same purchasing power by the time I come to spend them. 1/2
Show thread🔶Mark Nicoll 3.5%🏴󠁧󠁢󠁥󠁮󠁧󠁿🇬🇧🇪🇺🇺🇳2d ago
@dormouse759 @Em0nM4stodon
Alternatively I could go to a website I never heard of, buy a currency I've never heard of and be assured of it's value by a company I've never heard of saying "trust me bro". Because the level of knowledge the average person has about crypto means that's about as accessible as it gets.
2/2