We need a solution to process international payments that isn't an American fintech company or cryptocurrency and is privacy-respectful like yesterday.
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I am not that negative. I think European systems will take off... Eventually... And provide a limited independence vs the big US 4. Lessons have been learned, the hard way (see ICC blacklisting, etc).
Privacy respecting European systems will be... But only slightly better than US providers.
But, going back to my original argument: cash is king. It's interesting to note that the country most attached to large euros banknotes is Germany.
@ParadeGrotesque @Em0nM4stodon I agree, and #Germany restricting #CashPayments to €5k is not only bad amidst the #Greedflation but also absurd.
- Worse is only the abolishment of the €500 Banknote which I think will be more needed than ever amidst #inflation.
- Worst is that the #ECB never introduced €2 and €1 banknotes, so millions if not billions of Euros in Coins are stuck overseas as people can't exchange their tips for local currency.
- Worse is only the abolishment of the €500 Banknote which I think will be more needed than ever amidst #inflation.
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We need a solution to process international payments that isn't an American fintech company or cryptocurrency and is privacy-respectful like yesterday.
Please
Edit: By privacy-respectful, I don't mean anonymous. I mean a solution that practices data minimization, and does not share and monetize the data it collects.
@Em0nM4stodon I'm in the US and want a different system here. I try not to use PayPal as much as possible. That is the only one I use. I don't use Venmo, Applepay, etc. And I know Venmo is owned by PayPal. I mainly use cash, and I do have a credit union.
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We need a solution to process international payments that isn't an American fintech company or cryptocurrency and is privacy-respectful like yesterday.
Please
Edit: By privacy-respectful, I don't mean anonymous. I mean a solution that practices data minimization, and does not share and monetize the data it collects.
@Em0nM4stodon
It's sad that cash in the mail is still the best option in some cases. That takes forever and, for obvious reasons, has a tendency to go missing. At least in the U.S., it's guaranteed not to be opened at any point along the way, but as soon as it has to cross a border, it might be. Also, not everyone's honest, especially when said opportunity involves cash. -
We need a solution to process international payments that isn't an American fintech company or cryptocurrency and is privacy-respectful like yesterday.
Please
Edit: By privacy-respectful, I don't mean anonymous. I mean a solution that practices data minimization, and does not share and monetize the data it collects.
@Em0nM4stodon It's needed, not just to avoid feeding the fintech beast, but to avoid retaliation if you stand up to the Israeli regime and its support by the USA.
Eg judges and others on the International Criminal Court have lost access to critical financial services for daring to lay charges against Netenyahu.
https://apnews.com/article/international-court-sanctions-trump-icc-hague-4cdefe4de067432f6cdb9b137908c463 -
We need a solution to process international payments that isn't an American fintech company or cryptocurrency and is privacy-respectful like yesterday.
Please
Edit: By privacy-respectful, I don't mean anonymous. I mean a solution that practices data minimization, and does not share and monetize the data it collects.
@Em0nM4stodon Francesca Albanese has also been sanctioned by American fintech for telling the truth about what Israel is doing in Gaza.
https://www.ynetnews.com/article/rjwbji7z11l -
We need a solution to process international payments that isn't an American fintech company or cryptocurrency and is privacy-respectful like yesterday.
Please
Edit: By privacy-respectful, I don't mean anonymous. I mean a solution that practices data minimization, and does not share and monetize the data it collects.
@Em0nM4stodon BRICS is supposed to be the rival system to US dollar.
Although, BRICS is in disarray since the Iran war kicked off, mostly due to India backstabbing other key member states.
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We need a solution to process international payments that isn't an American fintech company or cryptocurrency and is privacy-respectful like yesterday.
Please
Edit: By privacy-respectful, I don't mean anonymous. I mean a solution that practices data minimization, and does not share and monetize the data it collects.
@Em0nM4stodon I like Mollie (Dutch psp, supports multi currency and many methods including cc of course)
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We need a solution to process international payments that isn't an American fintech company or cryptocurrency and is privacy-respectful like yesterday.
Please
Edit: By privacy-respectful, I don't mean anonymous. I mean a solution that practices data minimization, and does not share and monetize the data it collects.
I think this a lot.
A non profit payment system would be SO EMPOWERING.
Kinda like activitypub vs. corporate media.
I am pretty sure a sign of how empowering it would be
is how much western governments would fight it.
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E em0nm4stodon@infosec.exchange shared this topic
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@Em0nM4stodon not sure where you are located, but us EU citizens in Germany, France and Belgium potentially already have access to WERO, which is a PayPal alternative handled by the partner banks.
It’s not much yet, but it’s a start!
@distractions I'm in Canada, so sadly I won't benefit from this myself. But I'm so glad Europe is working on alternatives!
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@Em0nM4stodon Good Luck finding anything at all...
- #wero sadly isn't gonna be available ouside of #SEPA so it's not even competitive to #PayPal and at best will mirror Russia's #Mir Payment System.
- #GnuTaler is #Vapourware and doesn't even constitute a real currency.
- But merely a hodge-podge payment system that at best competes with other closed-loop solutions like Sony's #FeliCa (as used in #Pasmo, #Suica & #OctopusCard systems).
- Requiring #NoKYC makes it basically illegal to operate or found in the entire EU / #EFTA, #USA and most other places around the world under false pretenses like "#AML" & "#CTF".
- I can cofirm @ParadeGrotesque 's insights as true: Even if you are working for a payment processor who bankrolls the "OnlyFans we have at home", you gonna have to do more "due diligence" re: payouts than a mere 18USC2257-style form.
- Well, the least worst that actually works that I can point at is #Monero, which is why it's being systematically attacked with #delistings and #debanking if not flat-out #criminalization.
- But since you explicitly said "not cryptocureency" that makes it kinda moot.
- Don't even get me started on @signalapp 's #Shitcoin aka. #MobileCoin, which even #TechLiterates like @techlore were unable to buy despite trying...
Again: Good luck finding something, because the #US will basically criminalize anything even remotely competing to their "#Quadropoly" of #AMEX, #Visa, #MasterCard & PayPal!
@kkarhan @ParadeGrotesque That's what I'm saying though. This doesn't exist yet. But there is a great need for it.
- #wero sadly isn't gonna be available ouside of #SEPA so it's not even competitive to #PayPal and at best will mirror Russia's #Mir Payment System.
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@kkarhan @ParadeGrotesque That's what I'm saying though. This doesn't exist yet. But there is a great need for it.
@Em0nM4stodon @ParadeGrotesque yeah, I just acknowledge that so far it's extremely unlikely to ever be allowed to exist…
- Cuz there was a system pre- #wero known as #GeldKarte¹ which did a lot but suffered from being strictly #prepaid & #Chip + #PIN only (a #contactless variant known as #girogo was launched but saw even less acceptance & users) , so not even competing with #Pasmo & #Suica on a national comparison. Until then #girocard is the "controlled opposition"…
- #PaySafeCard works great online but I've never heard nor seen of any acceptance in-store ( #retail or #restaurants) and it's limit to €100 (due to " #AML " / " #CTF ") as well as strict #C2B limits (no #C2C transactions possible!) makes it not a replacement of #PayPal.
- #Monero does work great, but the continued #debanking attacks are #FUD|ding consumers despite it being "the least worst option" currently existing!
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We need a solution to process international payments that isn't an American fintech company or cryptocurrency and is privacy-respectful like yesterday.
Please
Edit: By privacy-respectful, I don't mean anonymous. I mean a solution that practices data minimization, and does not share and monetize the data it collects.
@Em0nM4stodon two genuine questions:
1. What's the issue with something like Monero/cryptocurrency in general?
2. If you do need something involves a debit/credit card, would you not be looking for a SECURE platform instead of a PRIVATE one? Nothing about that system is privacy-respecting, the best you could hope for is a more secure solution that only cooperates with some data requests. -
@gracie @Em0nM4stodon The point is that a lot of companies involved in transactions today sell information about the transactions they process to hundreds of companies unrelated to the transactions. This started as a way to slightly cut the fees charged to merchants so as to undercut competitors, but now it’s just a common business practice.
Full anonymity would be nice, but it’s possible to be better than the nightmare we have today without it.
