alt Hacker NewsI get that this is a good thing and long overdue - but the excitement here just underscores for me how expectations in Europe for Europe doing anything truly cutting edge are low.
Replies
marginalien • today at 5:58 PM
I think EU citizens are excited mainly because of winning back their digital sovereignty, nobody said this would be cutting edge technology. Actually the simplicity of the solution is key (Wero is based on EU’s proven SEPA Instant Payment rails).
That being said, what I do not like about Wero is that some parts of the infrastructure is based on AWS and or Google cloud; hopefully they will switch to European clouds, soon.
➕ show 1 reply
Havoc • today at 6:05 PM
The excitement isn't about innovation but about solving a problem: Increasingly unreliable US in payment system
The precursor to this system (iDEAL) has been running in The Netherlands for 21 years. Pretty much all transactions of Dutch webshops and even a lot of foreign webshops (thanks to Stripe support) by Dutch buyers go through iDEAL, as well as most digital P2P payments in Europe.
Many other EU countries have had similar systems for years, but Wero is standardizing it between a bunch of countries.