343

Our payment systems are too dependent on the USA (omni.se)

submitted 5 months ago* (last edited 5 months ago) by DreasNil@feddit.nu to c/buyeuropean@feddit.uk

52 comments fedilink hide all child comments

The governor of the Central Bank of Sweden comments our payment systems.

Here’s an AI translation of the text into English:

"Given the geopolitical situation, it is important to create European systems in a number of areas. This is according to Riksbank Governor Erik Thedéen in an interview with Ekot’s Saturday program, where he emphasizes that Sweden’s payment systems should not be as dependent on the USA as they have been. As an example, he points out that the two dominant credit card issuers, Mastercard and Visa, are American. 'It is probably wise to consider that we should also have European or Swedish systems that function in case the American ones do not,' he says. According to the central bank governor, Swish is 'a certain complement.' He also highlights that other countries, such as Denmark, have their own national credit cards."

you are viewing a single comment's thread
view the rest of the comments

[-] waigl@lemmy.world 8 points 5 months ago

Wero is not widely supported yet, it's not even finished yet, it doesn't have feature parity with existing solutions. Compared to its predecessor, Giropay, it's also rather intransparent, in a "just trust our app, bro" kind of way, with little in the way of open standards.

It needs support from every single bank to work (in stark contrast to PayPal, btw), and that support requires quite a lot of development and maintenance effort on the part of the bank. Parent poster (BarHocker) said many European banks already support it, but the practical reality is most of them don't, and largely didn't have any plans to, either. The number of supporting banks is artificially inflated by the fact that the German Volksbanken/Raiffeisenbanken and the Sparkassen, respectively are technically hundreds of small regional banks.

This requirement to have direct support from the individual banks is, the way I see it, the main reason why Giropay failed. If Wero has the exact same problem, I don't see why it would succeed where Giropay did not.

I do still hope for it, though.

this post was submitted on 20 Dec 2025

343 points (100.0% liked)

Buy European

10387 readers

63 users here now

Overview:

The community to discuss buying European goods and services.

Matrix Chat of this community

Rules:

Be kind to each other, and argue in good faith. No direct insults nor disrespectful and condescending comments.
Do not use this community to promote Nationalism/Euronationalism. This community is for discussing European products/services and news related to that. For other topics the following might be of interest:
Include a disclaimer at the bottom of the post if you're affiliated with the recommendation.
No russian suggestions.

Feddit.uk's instance rules apply:

No racism, sexism, homophobia, transphobia or xenophobia.
No incitement of violence or promotion of violent ideologies.
No harassment, dogpiling or doxxing of other users.
Do not share intentionally false or misleading information.
Do not spam or abuse network features.
Alt accounts are permitted, but all accounts must list each other in their bios.
No generative AI content.

Useful Websites