Post #4572120

2026-08-06 07:55 UTC

@RandamuMaki@mstdn.social @EUCommission@ec.social-network.europa.eu You can't really blame the banks for this, there just isn't enough European infrastructure yet, especially cross-border. The good news is that they're working on it, few decades late but some stuff is finally happening. There's the Digital Euro which is developed by the ECB and has political backing. Then there's also WERO which is a private initiative for digital payments, including cross-border. Rollout across 5 countries currently with more to come, and there are some plans for integration with other digital payment platforms in other European countries.

Replies (4)

@RandamuMaki@mstdn.social 2026-08-06 08:31

@thisislieven@c.im @EUCommission@ec.social-network.europa.eu And what would be the European alternative to Stripe? A lot of people who receive money for business purposes are being pushed toward that particular company. I'm not sure Wero will cover incoming payments like that.

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@dmian@mastodon.social 2026-08-06 08:36

@thisislieven@c.im @RandamuMaki@mstdn.social @EUCommission@ec.social-network.europa.eu Wero is EPI (European Payment Initiative), and there’s also the EuroPA (European Payment Alliance) that’s Bizum, Bancomat, MB Way and more. Those will get interconnected and will serve to send money (though Instant SEPA does the same) and payments in stores. Digital Euro is like cash, and should help replace debit cards too. Credit is a different beast, but doable. The thing is payments outside of the EU.

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@haagch@mastodon.online 2026-08-06 12:54

@thisislieven@c.im @RandamuMaki@mstdn.social @EUCommission@ec.social-network.europa.eu The basic things banks could do is to create a standardized Europe wide API to receive real time notifications of incoming SEPA transactions. Afaik that alone would make it much easier to build onlineshop software that allows accepting direct SEPA payments. But of course there are no fees in those...

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@LeonardoDiOttio@mastodon.social 2026-08-07 08:28

@thisislieven@c.im @RandamuMaki@mstdn.social @EUCommission@ec.social-network.europa.eu That infrastructure exists and is called TIPS (and you already use it without knowing). It just needs more services to be built upon those instead of on top of legacy Visa or Mastercard infrastructure. https://www.ecb.europa.eu/paym/target/tips/html/index.en.html

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