Comment on Europe’s $24 Trillion Breakup With Visa and Mastercard Has Begun

• UnderpantsWeevil@lemmy.world ⁨10⁩ ⁨hours⁩ ago

  Great if you don’t mind a wallet overflowing with loose change.

  Crazy that we don’t have a public sector payment processor, though. You’d think we could have a Generic Card tied to a public bank that handles electronic payments efficiently. But it’s been over 40 years since we began consumer grade electronic transactions and its still entirely within the scope of the private sector.

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  • wabasso@lemmy.ca ⁨10⁩ ⁨hours⁩ ago

    Interac isn’t too bad right? I agree with you that sort of service should be public, but I heard (years ago) that Interac is non-profit.

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    • UnderpantsWeevil@lemmy.world ⁨10⁩ ⁨hours⁩ ago

      Interac is non-profit.

      OpenAI started out as non-profit. Quite a few health insurance companies (Blue Cross Blue Shield, for instance) are organized as non-profits.

      shrug

      Still, talking to vendors, it sounds like the fees are quite low, and I try to pay debit when it’s a small business.

      Sure. All good when it works for you. But this isn’t some kind of wholesale replacement for Visa that doesn’t run the obvious risk of becoming Visa 2.0 (or whatever X.0 iteration of credit card companies we’re currently on).

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      • wabasso@lemmy.ca ⁨10⁩ ⁨hours⁩ ago

        One of the things I heard Musk say was that it shouldn’t be possible for a non-profit to just be converted into for-profit. Have to agree with him on that.

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  • lightnsfw@reddthat.com ⁨10⁩ ⁨hours⁩ ago

    You want trump in control of our commerical transactions?

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    • percent@infosec.pub ⁨2⁩ ⁨hours⁩ ago

      Brazil has a payment system (called Pix, IIRC) that seems to work well, and has survived some… questionable leadership.

      I don’t know much about it (maybe a Brazilian can say more about it), but it seems to serve the businesses very well there.

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    • UnderpantsWeevil@lemmy.world ⁨10⁩ ⁨hours⁩ ago

      He’s appointing the next Fed chair as we speak. We’re a bit past feeling squeamish about what Trump controls.

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      • lightnsfw@reddthat.com ⁨9⁩ ⁨hours⁩ ago

        So then you do understand how having our transactions controlled by the government is a bad thing?

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