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this post was submitted on 24 Aug 2025
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Europe
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Thing is that all credit card transactions are settled by US companies. Try running an online business without the ability to charge by card.
Europe is working on that, in Spain we have Bizum and I'm sure there's equivalents in other European countries. We need to standardise it and make it work as seemlessly as contactless card pay. There's some places where you can do it pretty easily already, but it takes time.
China with WePay/AliPay enters the room
If the one standard is really shitty, having more standards is not that bad after all. EU definitely have a big enough market to start their own payment processing standard.
Nah humans can't do an economy. Finding a system that removes exchanges from the world is the only viable method. We have plenty of evidence we can't do an economy anyways.