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?
Although that would be a win, European alternatives are not much better in terms of privacy. If that’s something you’re looking forward to.
Pretty much all methods of online payment require you to give away your identity in the name of fighting “money laundering” and terrorism (Israel doesn’t count). You have a system where the government is constantly trying to reach its tentacles into everything that has to do with finance. The current European payment services are an important part in facilitating that control. A new European debit/credit card is not going to change that.
Although that would be a win, European alternatives are not much better in terms of privacy. If that’s something you’re looking forward to.
Pretty much all methods of online payment require you to give away your identity in the name of fighting “money laundering” and terrorism (Israel doesn’t count). You have a system where the government is constantly trying to reach its tentacles into everything that has to do with finance. The current European payment services are an important part in facilitating that control. A new European debit/credit card is not going to change that.
At least then no longer will be a portion of the money sent out of Europe as commission/fees.