Mojo ♻️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.
SoapDog
Dmian 🇪🇺@soapdog @mojo @Coffee Yes, there are other cases around the world from different countries. The challenge in the EU is that you have 27 countries withe their own banking systems, with different levels of maturity, services and goals. And you need for all these banks to be connected and work in the same way, and reliably. Not as easy as it seems. But it will work in the end. The will is there. 😊
Allegro con Fuoco@largo @soapdog @mojo @Coffee How long did it take Visa and Mastercard to establish their global system? How much did they invest in infrastructure and maintenance? You’re talking about a couple companies that employed decades and a lot of money to position themselves, against more than a hundred banks in 27 countries that must agree on many levels to make way different systems work… so, lol! 😄
@dmian And do *you* know that or are you just happily sticking your neck out on the chopping board to defend banking corporations of all things?
https://en.wikipedia.org/wiki/Visa_Inc.
Banks signed up to the credit card payment scheme themselves. It wasn't a david vs goliath story of Visa against hundreds of banks, that you make it seem to be... so, lol
