Europe’s $24T breakup with Visa & Mastercard has begun. ECB’s Lagarde warns almost all EU card/mobile payments still run on non‑European rails, sending spending data outside the EU. Now EPI + EuroPA are launching Wero, a pan‑EU wallet for 130M users to pay cross‑border without US networks. A huge shift for payment sovereignty—and data privacy.

#payments #fintech #eu #wero #datasovereignty

https://europeanbusinessmagazine.com/business/europes-24-trillion-breakup-with-visa-and-mastercard-has-begun/

Europe vs Visa & Mastercard: The $24 Trillion Payments Shift

Europe is building its own payments system and reducing reliance on Visa and Mastercard. Here’s why the $24 trillion shift matters now.

European Business Magazine
@mojo
Wero only works in iPhone and Android.
Both US chokepoints.
@vampirdaddy that’s the thing that needs to change.

@hypostase

Waiting for new Jolla phone, hope it will be successful:
https://techhub.social/@jolla/116301057443373813

@vampirdaddy

jolla (@[email protected])

Attached: 1 image The Jolla Phone pre-orders are now ready to complete. Your pre-order made this project real and by now we have an amazing 12 000 pre-orders - wow! Only with the support of you, together with the community, have we been able to move forward, and now it is the time to move towards mass production. The Jolla Phone is getting closer to being in your hands. Pre-order holders: your payment link is ready. Choose your colour, complete your order by April 30, and lock in your delivery. Check your email for your personal order link, or reach out if you have questions. Happy sailing! #Jolla #SailfishOS #DigitalSovereignty #PrivacyFirst #CommunityPowered #European

TechHub
@vampirdaddy @mojo yes, but this would be a step in the right direction. Plus there has been more discussion around european digital soverignty

@vampirdaddy @mojo well.. thats a bit due to payconiq in the past focusing so much on QR codes to start transactions via an app and being the single (visible) issuer for consumers.

But iDEAL was web first (I ran the initial Rabobank experiment to make it App compatible). Web first can easily be provided, the iDEAL proxy is actually an example of that you could say.

@vampirdaddy @mojo im more concerned by all the banks moving their 2fa into iOS and Android app. That’s gonna be way harder to fix.

Also i dont like the consumer facing centralization that wero does. I liked iDEALs distributed model over the banks, but it was a big strain on banks and merchants. I guess to be a competitor to visa/mastercard/paypal, this had to be streamlined.

@vampirdaddy
But that's just the end user device. When the infrastructure is up and running, new frontends could be built for Jolla, Graphene, LineageOS, whatever. It merely requires the political decision that the software should be available and distributed on other platforms/appstores than the 🇺🇸 ones.
@mojo
@MrManor @vampirdaddy @mojo we want websites, not apps and AppStores. No need for vendor lock-in and non-open technology
@linc
@MrManor @mojo
I have a USB barcode scanner for my PC. So I just need a website that e.g. plugs into my Banking portal.
But not nothing!