6 ms·

This is what these peeps advocating for an "EU-based payment system" don't get, as they typically don't travel worldwide. VISA + Master just work. Have a debit

This is what these peeps advocating for an "EU-based payment system" don't get, as they typically don't travel worldwide. VISA + Master just work. Have a debit plus credit for one each. (And no, Google / Apple pay won't do it, everyone who calls themselves a "hacker" should know that you too often can't even pay for transport using a rooted phone).

aveao 7mo ago
We do actually. The German Girocards were, until Maestro ceased to exist, often co-issued as Maestro + Girocard, and global acceptance was pretty good under the Mastercard network. There are examples of other co-branded national payment systems out there (troy + Discover comes to mind). If a European payment system (with cards, at a store) is to exist, then visa/mc will still want a piece of the pie by at least playing along to remain as a co-brand and taking their cuts from international payments.
danelski 7mo ago
Aside from what the other commenter said about the hybrid systems, you proudly state that you have 4 cards at minimum, but having a system that would work continent-wide for ~98% of all money you spend would not bootstrap if someone needed to be bothered with having a separate travel card, which would rest in the drawer or as second Apple/Google/Garmin Pay choice most of the time? Most adults I know have 2+ cards already, it's just that they were issued by Master Card or Visa. American Express and Discover still exist, despite definitely not having worldwide coverage.
markvdb 7mo ago
VISA + Master just work _for now_. Debanking Nicolas Guillou[0] was a financial Greenland. Short-term negative-sum transactionalists are governing the US. Even if November stabilises things somewhat, the cat is probably out of the bag. Trust comes on foot, but leaves on horseback. _That_ is why a well-integrated EU-based payment system is needed. [0] https://en.wikipedia.org/wiki/Nicolas_Guillou https://en.wikipedia.org/wiki/Nicolas_Guillou
tuetuopay 7mo ago
The idea is for the US to not be able to shutdown CC transactions at points of sale in Europe on a whim. All cards in europe are dual-issued under Visa or Mastercard, and under a national card payment processor. In France, that's CB (Carte Bancaire). When you pay in europe, it uses the European network. Outside, it uses Visa/Mastercard. So sorry, we do definitely get what this entails :)

aveao 7mo ago

We do actually. The German Girocards were, until Maestro ceased to exist, often co-issued as Maestro + Girocard, and global acceptance was pretty good under the Mastercard network. There are examples of other co-branded national payment systems out there (troy + Discover comes to mind). If a European payment system (with cards, at a store) is to exist, then visa/mc will still want a piece of the pie by at least playing along to remain as a co-brand and taking their cuts from international payments.

danelski 7mo ago

Aside from what the other commenter said about the hybrid systems, you proudly state that you have 4 cards at minimum, but having a system that would work continent-wide for ~98% of all money you spend would not bootstrap if someone needed to be bothered with having a separate travel card, which would rest in the drawer or as second Apple/Google/Garmin Pay choice most of the time? Most adults I know have 2+ cards already, it's just that they were issued by Master Card or Visa. American Express and Discover still exist, despite definitely not having worldwide coverage.

markvdb 7mo ago

VISA + Master just work _for now_. Debanking Nicolas Guillou[0] was a financial Greenland. Short-term negative-sum transactionalists are governing the US. Even if November stabilises things somewhat, the cat is probably out of the bag. Trust comes on foot, but leaves on horseback. _That_ is why a well-integrated EU-based payment system is needed. [0] https://en.wikipedia.org/wiki/Nicolas_Guillou https://en.wikipedia.org/wiki/Nicolas_Guillou

tuetuopay 7mo ago

The idea is for the US to not be able to shutdown CC transactions at points of sale in Europe on a whim. All cards in europe are dual-issued under Visa or Mastercard, and under a national card payment processor. In France, that's CB (Carte Bancaire). When you pay in europe, it uses the European network. Outside, it uses Visa/Mastercard. So sorry, we do definitely get what this entails :)