This is an Austrian company that offers mobile payments with barcode/qr-code in shops in Austria and Germany, as well as in a few places in Italy and Luxembourg.
I use it since one year. It works fine, but it could definitely use more attention, so that more shops start to accept it. What are your thoughts on that?
The problem in Europe is exactly the fragmentation of payment systems. For most you can only use them if you are a resident and have a bank account on that country.
• Wero: Germany, France, Belgium, Luxembourg, Netherlands
• MB WAY: Portugal
• Twint: Switzerland
• Swish: Sweden
• MobilePay: Denmark, Finland
• iDEAL: Netherlands
• Bancontact: Belgium
• BLIK: Poland
• Satispay: Italy
• Vipps: Norway
• Giropay: Germany
• Sofort: Germany
• Cartes Bancaires: France
- Etc....
On one hand, I want the convenience of a unified system. On the other hand, I don’t want another monopoly with a dangerously wealthy CEO at the helm.
Well, isn’t visa and Mastercard part owned but the banks? Perhaps a similar system is the only way to make it work. It seems odd that with a unified market for services, payment processing needs to be a bank registered in each country. I assume that is why it’s an issue. It should be possible for any processing within the euro zone to be instant between countries and not need a seperate licence for each. Revolut already does quick easy transfers even between non euro countries. I wonder if a bank like that could do it? I think as a bank they are on,y registered in one country, so maybe I’m wrong on the need to register everywhere.
Maybe a payment system that would only be responsible for EU transfers would be the solution? In addition to the established solutions.
TWINT offers a Prepaid Option for foreigners, and WERO is open to all banks that want to participate.
Exactly. Even the most inclusive are hard to use when compared with using the Visa/Mastercard networks which are integrated with most banks and merchants.
In Germany you have a better acceptance with Girocard (and guess that’s true for most other national systems up there too), and all the popular national systems within the European Payments Initiative will probably convert into Wero (At least that seems to be the plan).
So they will start with a big initial acceptance and cards in circulation. Usually they are cobadged with MC/Visa, so customers won’t probably even won’t notice that they will paying with Wero in Europe
I think iDEAL and Bancontact are already/will be soon phased out/incorporated into Wero. Source (towards the bottom): https://wero-wallet.eu/news/epi-launches-wero-its-innovative-digital-payment-wallet-in-belgium
I don’t think Wero is comparable to the others, they didn’t have the scope, ambition and backing Wero and the European Payments Initiative have ? It’s limited right now but it just launched, I’m sure more banks will progressively join.
Wero is the successor of Giropay which kinda went semi-obsolete with SEPA instant transfers. The original use case was telling shops that a regular SEPA transfer was guaranteed to arrive by the bank sending that information via giropay and the actual money then using regular channels. Sofort dug deeper into that market because it’s the only business they have, while giropay is little more than a thin wrapper around banks agreeing on a particular interface. Online all you really need, today, is a way for a shop to send you over to your bank with a SEPA transfer template pre-filled with the right data. That’s not a business, it’s barely even a website.
The good news, indeed, with the EPI is that the rest of Europe is finally adopting the same standards-setting procedure that Germany had for ages because we have 1400 banks over here, most of which only serve a local customer base, they need to interoperate, insular solutions just don’t make sense or you couldn’t go to an ATM the next town over. And they do have a habit of not inventing pointless intermediaries, much less intermediaries handling actual money both sender and recipients already have bank accounts why get a third bank involved.
Yea and this is exactly why so much of our payments and purchases are still giving IBANs out to do a homebanking transfer. MB WAY works really great here in Portugal but it’s useless in the whole rest of Europe. If this is going to really happen we need the ECB to make an app, or at least a standard for banks across the whole eurozone to adopt.
We should be happy here that at least in Portugal we solved the ATM infrastructure decades ago and all banks work transparently. Other countries took many years and I’m not even sure if they still charge for withdrawals of money on ATMs from different banks like years ago when I saw that for the first time in Spain.
I guess with sepa standards being updated maybe mbway in the future will just integrate with it transparently with wtv becomes the common thing in europe and we would just see it as a new simple feature like “now you can send and pay money in other countries too”.
Just my wishful thinking. At least Wero which I keep reading about here in lemmy seems to be the same thing we already have and maybe they could just integrate with our thing.
There’s the whole new SPIN thing being pushed by our banks to associate an account to a phone number too, which kinda overlaps with mbway.
Yea the whole MB system works exceptionally well. Would just be nice if it extended to other countries, just Spain would be a huge improvement. I don’t really get how SPIN is different, I haven’t used it yet.
@professionalspooner funny I have never heard of wero in Germany 😅
These really annoy me. I used to spend a lot of time in Sweden so I tried pretty hard to get an account set up to let me pay by swish. I gave up. If you’re not a resident you can’t get a person number so you can’t get a bank ID so you can’t use swish.
What is frustrating is that lots of places I went required swish and wouldn’t take cash or card, so I ended up having to get other people to pay for me.
I bet many other systems in other countries are similar
We need a European alternative to MasterCard and Visa. Two American companies own basically the non-cash market. The digital euro can’t come soon enough
We should collect all national offerings (we have satispay In Italy) and then create a bridge among them.
Too easy? Too many high-castle heads to cut off?
https://chat.mistral.ai/chat/0ecf1bd4-40b1-476b-ba5a-a888daf6bfa1
We’ve had a standard for this since 2013. Scan code, your bank app opens with the transfer as a template, you authorise it. Now, with SEPA instant transfers, it’s guaranteed to arrive within ten seconds. No pointless third parties involved.
I see this being useful for non-permanent shops, like a strawberry farmer with their seasonal stand, flea markets, etc, but for permanent shops POS systems are superior, whether chip+pin, rfid with card, or rfid with phone. It’s also useful for private-to-private transfers, my bank app can display the code, someone else can scan it, choose an amount, done. In the wild I’ve only seen them on paper invoices, just another (additional) way to write “please send the due funds to <bank details>”.
How does the employee at the till know if the transaction was successful?
Just as they do know: The till will tell them that the customer has paid.
Which is why I said that this QR code thing is much more useful for situations where there’s no till in the first place, like a flea market, where a QR code + looking at the transaction log on your phone can make a shoddy yet serviceable till. Certainly better than telling people to go to an ATM if they want to buy something.
@oakward@feddit.org cool, I can see my comments from lemmy on mastodon, I am curious if comments from mastodon make it across to lemmy.
I just checked their website. For registration the require my bank account (understandably) AND password. That’s a no from me dawg.
In belgium Klarna is an option that is growing more and more custom with online-payments
Klarna is probably going to implode due to mismanagement. Their CEO thinks he can replace software engineers with AI, got a rid of way too many of them and the ones that are left are overworked just trying to keep the lights on.
