European News 🇪🇺The EU will launch the digital euro as a 100% European digital payments system to replace reliance on Visa, Mastercard, and Apple and Google Pay, with the European Central Bank issuing a digital form of cash. It will be built entirely in Europe, have zero transaction fees, instant payments, and strong privacy, giving the EU full control over its payments infrastructure.
Tim Ward ⭐🇪🇺🔶 #FBPE@eunews pw;dr
Have Visa, Mastercard, etc, launched their lawsuits yet?
Ray McCarthy@TimWardCam @eunews
Visa & Mastercard can't sue.
There is already IBAN (free online transfer in EU), which even works in USA, and other funds transfers apart from PayPal and Western Union.
"13 of the 20 countries in the euro, including Ireland, have no domestic card scheme. You use an international operator, or you pay in cash."
It's alternative to Revolut (can be cardless), PayPal, Apple, Google, Amazon or clunky IBAN (which is only online), not Visa/Mastercard USA Credit or debit cards.
Raymond Russell@raymaccarthy @TimWardCam @eunews
In the UK my debit card has the Mastercard Logo on it for card payments but with the associated bank account I can do free instant bank transfers to any other UK bank account via online banking.
In the UK my debit card has the Mastercard Logo on it for card payments but with the associated bank account I can do free instant bank transfers to any other UK bank account via online banking.
@raymierussell @TimWardCam @eunews
This is true of almost all banks. The Debit cards are controlled by Mastercard or Visa (USA). Usually free transfers within UK, or free within EU. Brexit cut off free transfer UK to EU.
BUT IT'S CONTROLLED BY the USA GOVERNMENT. Also a parasite as the bank is charged and the money goes abroad.
The USA Government can disable that card without a court order!
So for EU there will be a system not depending on the whims of US Corporations or their Government.