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 “without us networks”

whois $(dig +short pay.weropay.eu)|grep OrgName
OrgName: Amazon Technologies Inc.
OrgName: Amazon Technologies Inc.
OrgName: Amazon Technologies Inc.

@JonSaenzAgirre @oxapentane Seeing Amazon there means infrastructure, not control. Bit like saying your house is owned by the power company because you use their electricity.
@mojo @JonSaenzAgirre Bad analogy. See microsoft testimony in France, calling something “soverign” when US law takes precedence from the hosting company standpoint is a big load of bullshit imo.
@oxapentane
There's no use in discussing facts with Wero believers.
@mojo @JonSaenzAgirre

@mojo @JonSaenzAgirre @oxapentane

The thing is: with the US cloud act in place, the data is not safe from US interests and we have seen instances in that the US deplattform People who they don' t like, even judges, and the fact that Wero is dependant on US technologie makes it open for such deplattforming via US will.

Wero is sure a good thing i want to suceed, but using US infrastructure in a system promoted as "independent EU alternativ" is just wrong.
The USA could stop it any time.

@mojo
If the power company is in the US and you're sanctioned, you'll have to find your own electricity. It will disappear with no warning.

If your infrastructure is on AWS and you're sanctioned, you'll have to find your own infrastructure. It will disappear with no warning.

It looks like they misunderstood the assignment.
@JonSaenzAgirre @oxapentane