Visa, Mastercard, and PayPal dominate the cashless payments landscape in the EU and the European Central Bank warns about the region's reliance on US payment giants. But what alternative does Europe have?
If I want to use Wero I have to tie my mobile phone number to it and then I can only use that number with that exact bank account and none of my others. Completely useless for me.
They need to come up with something that’s actually good for consumers and not just for the bank’s data gathering aspirations if they want to compete.
Yes, it still has usability problems, as many early stage projects do, but I see them as relatively easy to fix. Getting the market share in online shops will be much harder. Wero’s backing is big enough, and they already have experience with digital payment systems, so I am hopeful that they can pull it off.
Yes, the digital Euro looks even better. I was surprised that they would go for privacy (at least more privacy than other digital payment services) and offline transfers.
The problem is that it is even further away than Wero. We won’t get it until 2028 at the earliest, and I suspect it might take even longer, as many government projects do. Until then, I would rather use a European service than paypal or credit cards.
When the digital euro comes, it could arrive with a bang and wipe out a lot of other payment services.
If I want to use Wero I have to tie my mobile phone number to it and then I can only use that number with that exact bank account and none of my others. Completely useless for me.
They need to come up with something that’s actually good for consumers and not just for the bank’s data gathering aspirations if they want to compete.
Yes, it still has usability problems, as many early stage projects do, but I see them as relatively easy to fix. Getting the market share in online shops will be much harder. Wero’s backing is big enough, and they already have experience with digital payment systems, so I am hopeful that they can pull it off.
I hope the digital Euro will help. It’s said to even have an offline function for privacy.
Yes, the digital Euro looks even better. I was surprised that they would go for privacy (at least more privacy than other digital payment services) and offline transfers. The problem is that it is even further away than Wero. We won’t get it until 2028 at the earliest, and I suspect it might take even longer, as many government projects do. Until then, I would rather use a European service than paypal or credit cards. When the digital euro comes, it could arrive with a bang and wipe out a lot of other payment services.