The European Central Bank secured key parliamentary backing on Tuesday for the launch of a digital euro, an electronic means of payments aimed at making the euro zone less reliant on U.S. credit cards at a ‌time of fraying transatlantic relationships. The digital euro, essentially an electronic wallet guaranteed by the central bank but marketed by banks or fintech companies, will allow all euro zone ‌residents to make payments online and in person. Six years in the making, the ECB's digital cash has become a more pressing issue since Donald Trump returned to the White House, slapping tariffs on even established trade partners such as ​the European Union and raising fears that the U.S. could one day weaponize its dominance over payment networks like Visa and Mastercard.
  • atro_city@fedia.io
    81·
    3 days ago

    To the terror of Wero. But I’d rather have them both as options instead of just one.

    • Tar_Alcaran@sh.itjust.worksEnglish
      16·
      3 days ago

      Wero still uses Amazon’s servers for Things ™ that they won’t disclose. They say they’re working on it now that european cloud compute is expanding.

      I’d much rather use something controlled by the ECB than by private parties though.

    • SomeOneWithA_PC@feddit.orgEnglish
      4·
      3 days ago

      I’m fine without an oligopoly being frightened by it. It sounds similar to like what GNU Taler already tries to do. I also think Wero might not completely be obsolete but i couldn’t are less about them or Paypal or Visa or Mastercard.

    • pmk@piefed.caEnglish
      2·
      3 days ago

      Is Wero for payments between individuals or more like paying for groceries in the store, or both?

        • Eril@feddit.orgEnglish
          1·
          3 days ago

          Except I still have to see a single place where I could actually choose to pay with Wero…

        • pmk@piefed.caEnglish
          1·
          3 days ago

          I see, that’s good. In sweden we have something called Swish, and some stores accept it, but it’s also less convenient because you have to scan a qr code and enter your pin code and wait for the network and delays. With a card you just tap it and that’s it. But the only cards we have are visa or mastercard.