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European Banks to challenge US payment providers.

3 minutes ago, Taf the Ghost said:

Kinda curious why this wasn't done 20 years ago. Anyone have thoughts?

This is a massive commitment. European Union expanded IIRC twice since 2000 and they spent a significant portion of their budget on new members and their infrastructure. On top of all that I don't think data security and US/EU politics were such points that they needed to think about local alternatives.

mY sYsTeM iS Not pErfoRmInG aS gOOd As I sAW oN yOuTuBe. WhAt IS a GoOd FaN CuRVe??!!? wHat aRe tEh GoOd OvERclok SeTTinGS FoR My CaRd?? HoW CaN I foRcE my GpU to uSe 1o0%?

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15 minutes ago, Taf the Ghost said:

Kinda curious why this wasn't done 20 years ago. Anyone have thoughts?

Way harder to build the infrastructure?

Less people using credit cards and less shops accepting credit card payments? Still remember vividly a Japanese ad trying to push them into credit cards and in-app QR codes (and failing miserably).

MasterCard and Visa were far less into politics?

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4 minutes ago, Levent said:

This is a massive commitment. European Union expanded IIRC twice since 2000 and they spent a significant portion of their budget on new members and their infrastructure. On top of all that I don't think data security and US/EU politics were such points that they needed to think about local alternatives.

It's not that big of a commitment. It's basically just a Point of Sale bit, but there might be something about the way Visa & MC were integrated into the early EU that isn't true now. Also a little surprising a EU-based startup didn't really take off, even if there is a lot of processors out there now.

3 minutes ago, gabrielcarvfer said:

Way harder to build the infrastructure?

Less people using credit cards and less shops accepting credit card payments? Still remember vividly a Japanese ad trying to push them into credit cards and QR codes (and failing miserably).

MasterCard and Visa were far less into politics?

A bunch of new processors cropped up after the Mobile Phone Revolution. Should have at least happened by 2010, when it was clear that the US/EU information divide would be really settled in. Though MC has seemed to be the real cause of the problems. Should probably take a look at what faction they're actually with, likely to be important in the future.

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Moved to General Discussion. This is about payment processing and financial institutions, not technology. Leave politics out of the discussion.

 

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5 hours ago, gabrielcarvfer said:

Weird, because that's exactly the opposite of what we're getting here with PIX (basically the same idea). Cheaper and instantaneous transactions. All sellers are trying to move to it, as the money gets available in seconds instead of a month (like with credit cards).

You dont have paypal credit etc? Weird. I mean what you're saying is basically the same, and as I said German Banks will *never* do this, without tremendous cost and bureaucratic hoops, and certainly not for everyone.

 

 

And, thats why "competition" is not always great, because it will make paypal do adjustments accordingly (99% change)

 

 

 

I'm actually one of those people who thinks that anonymity is overrated. Some people confuse privacy and anonymity and think they go hand in hand, and that protecting privacy means that you need to protect anonymity. I think that's wrong. Anonymity is important if you're a whistle-blower, but if you cannot prove your identity, your crazy rant on some social-media platform shouldn't be visible, and you shouldn't be able to share it or like it.

 

Linus Torvalds 

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4 hours ago, Mark Kaine said:

You dont have paypal credit etc? Weird. I mean what you're saying is basically the same, and as I said German Banks will *never* do this, without tremendous cost and bureaucratic hoops, and certainly not for everyone.

We do, but PIX fee is way lower vs 5% for PayPal sales.

 

No chargeback fees.

No dispute fees.

 

Transfer/sales fees:

0% for c2c

From 0% to 1.87% (150 BRL maximum) for c2b/b2b (banks are free to choose how much they charge when business are involved)

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13 minutes ago, gabrielcarvfer said:

We do, but PIX fee is way lower vs 5% for PayPal sales.

 

No chargeback fees.

No dispute fees.

i see, sounds good of course, im just saying from experience this will be a huge mess here in europe, highly onesided in favor of banks and not in any way cheaper or safer than paypal. 

 

 

I'm actually one of those people who thinks that anonymity is overrated. Some people confuse privacy and anonymity and think they go hand in hand, and that protecting privacy means that you need to protect anonymity. I think that's wrong. Anonymity is important if you're a whistle-blower, but if you cannot prove your identity, your crazy rant on some social-media platform shouldn't be visible, and you shouldn't be able to share it or like it.

 

Linus Torvalds 

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On 5/3/2021 at 9:51 PM, duncannah said:

Really happy to see this move. These companies have way too much control.

though companies often are better than the government

just kiddin they both suck

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