this post was submitted on 27 Mar 2025
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Hey guys!

Visa and Mastercard are the 8th and 15th biggest companies in the world, worth more than 1.1T USD (!!!).

For any purchase made with a credit or debit cards and you give them 2-3% of your money.

That's one the biggest waste of money from EU you can imagine.

I'm trying to find viable alternatives but except paying cash it seem there is no real alternative. Even in where I live there is an alternate payment service but they take the money from my mastercard, duh...

And the idea would be to have something even my grandma can use, not some nerdy solution, any thoughts?

Edit: Bitcoin would be a solution if widely adopted, but more realistic would be something accepted by every cashier machine, and if possible using the NFC of your phone, a kind of "Apple/Google" Pay, that goes directly from your bank to the bank's shop. Where I live all debit cards are either visa or mastercard...

Edit2: There is an EU initiative that seem to be starting with WERO, never heard of it: https://en.wikipedia.org/wiki/European_Payments_Initiative

Edit3: It seem that Paysafecard and Skrill are EU solutions and sometimes proposed in the payment method, but not with STRIPE payment solutions

all 18 comments
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[โ€“] alvvayson@lemmy.dbzer0.com 1 points 1 year ago (3 children)

Wero will become the replacement over time.

But for now, you're stuck with Visa and Mastercard if your country doesn't have a local alternative.

Just get the cheapest option.

It will take a while to replace Visa/MasterCard

For now it's only trying to replace PayPal no?

[โ€“] jagermo@feddit.org 1 points 1 year ago

Wero can win if the banks offer it with no additional cost to stores and, and this ia crucial, it offers credit and the blocking of funds for stuff like car rentals.

It needs to be as easy a visa/MasterCard and cheaper / easier to run with the same features. I have hope, but that is a tough order.

[โ€“] HubertManne@piefed.social 1 points 1 year ago

Bitcoin uses way to much energy to use as currency like that. gridcoin or any other one that uses proof of stake would be better if accepted but its a bit nicer if the energy put into it results in a useful product which gridcoin does.

[โ€“] alfredon996@feddit.it 1 points 1 year ago (2 children)

China has UnionPay, Japan has JCB, Russia has MIR. Europe should have its own credit card network

[โ€“] basxto@discuss.tchncs.de 1 points 4 months ago

Debit card is the way to go, not credit card.

Weโ€™ll see if any system will try to expand to more countries. Merging products like it happened for Wero is a way as well.

[โ€“] Goldholz@lemmy.blahaj.zone 0 points 1 year ago (1 children)

"EUROCARD"

Sounds nice as well

Make it blue with stars on it and the globe displaying a space picture of earth with europe

[โ€“] atro_city@fedia.io 1 points 1 year ago

@EUCommission@ec.social-network.europa.eu let's make this happen, mkay?

[โ€“] Eiri@lemmy.ca 0 points 1 year ago (1 children)
[โ€“] minilemmy@feddit.org 0 points 1 year ago (1 children)

my debit card is mastercard...

[โ€“] Eiri@lemmy.ca 0 points 1 year ago (1 children)

Dang it. I had forgotten that most debit cards now have partnerships like that.

However, remember that debit card transaction fees are typically quite a bit lower (no exact numbers to support my claim, but for instance my hairdresser only takes credit for larger payments; small ones she only accepts debit, or she would just lose too much to the credit card company).

So you wouldn't NOT support MasterCard/Visa, but they WOULD receive less money.

As for non-American credit cards, someone asked a similar question on Reddit and got technically valid but unsatisfying responses.

For instance:

https://www.reddit.com/r/amexcanada/comments/1j31ir0/comment/mfwmz5y/

Like, when they say "don't encourage the US" people don't typically mean jumping to Chinese companies instead. Not to mention UnionPay is definitely not as widely supported as Visa or MasterCard.

And while Japan isn't exactly notorious for its human rights violations these days, I kinda doubt JCB cards would be very widely supported. And could you even get one if you're not Japanese?

[โ€“] Tuuktuuk@kbin.melroy.org 2 points 4 months ago

Japan isn't exactly notorious for its human rights violations these days

It isn't, but it actually does a lot of human rights violations. The Japanese justice system is largely based on the idea of "guilty until otherwise proven."
That causes horrific tragedies where families are torn apart just for bad luck. You never did anything, but if they cannot be sure you did not do the crime, they jail you just in case, even for years.

[โ€“] victorz@lemmy.world 0 points 1 year ago* (last edited 1 year ago) (1 children)

For any purchase made with a credit or debit cards and you give them 2-3% of your money.

I'm not sure I understand this. The stores would be the ones to pay this fee, no? Not you with your money. The price of some item doesn't change depending on whether you use cash or a debit or credit card. Not usually anyway, maybe a small local shop has done this to me once or twice in my life. Or maybe a fair stand or something.

If we wanted to stop giving Mastercard and Visa "our" money, we would have to all band together as a world community and boycott them. ๐Ÿ˜ฌ

Please someone correct me if I'm wrong!

Edit: I mean, yes, of course the price of those small transactions are included in the price of the item. So we are all "paying" Mastercard and Visa money, even those who aren't using them. Which is still to my point that we need to all band together as a world community to boycott them, which seems futile in all honesty.

[โ€“] Buffalox@lemmy.world 0 points 1 year ago* (last edited 1 year ago) (1 children)

I'd like to know if something works for all of EU. Because that's the only reason for me to have Visa.
Everything in my own country can be handled with "Dankort" our national universally accepted debit card. We also have local Mobile pay which is also pretty universal here.

But those don't work for purchases outside Denmark.

[โ€“] basxto@discuss.tchncs.de 2 points 4 months ago

At most I expect that some company alliance manages to expand to all of Euro zone. But it doesnโ€™t look like they are keen on bothering with currency exchange.

Have you looked into American Express?

oh shit, nevermind.