We need a solution to process international payments that isn't an American fintech company or cryptocurrency and is privacy-respectful like yesterday.

[fnohe@ohai.social]

@Em0nM4stodon
@Taler is working on it I think?

[brass75@twit.social]

@Em0nM4stodon and what color wings should we put on the pigs?

[em0nm4stodon@infosec.exchange]

@fnohe @Taler I have lots of hope for this project
But also, I need something now, and I need something that accepts credit cards.

[em0nm4stodon@infosec.exchange]

@brass75 Pink please

[naturemc@mastodon.online]

@Em0nM4stodon The EU is preparing this.

[em0nm4stodon@infosec.exchange]

@NatureMC Sadly, I am not in the EU. But I'm glad there is work being done there.

[hyc@mastodon.social]

@Em0nM4stodon @fnohe @Taler how do you expect to accept credit cards *and* preserve privacy?

[em0nm4stodon@infosec.exchange]

@hyc Not asking for a passport and biometric data to register would be a good start. Not sharing account information with 345 partners would be a second positive step.

Also I wrote privacy-respectful. I don't mean anonymous.

[paradegrotesque@mastodon.sdf.org]

@Em0nM4stodon

Payment, and the banking world in general, are not privacy respecting in any way shape or form.

Your banker knows what you do with your money.

The only privacy respecting system of payment is cash. Period.

And I used to run complex IT systems for banks.

[em0nm4stodon@infosec.exchange]

@ParadeGrotesque I don't mean anonymous. Anonymity and privacy are different concepts.

Of course, legal names and transaction information are necessary to collect for legal reasons. But, for example, facial prints aren't, copies of official ID by anyone else who isn't a bank aren't either, sharing this information to monetize it with commercial partners is entirely unnecessarily privacy-invasive.

There are many things that can make a payment processing solution more privacy-respectful, without being anonymous. Data minimization, and strict policies on access and sharing are key here.

[rhelune@todon.eu]

@NatureMC @Em0nM4stodon Do you mean Wero?

[webhat@infosec.exchange]

@Em0nM4stodon I think what @ParadeGrotesque is trying to say, is that there is no form of digital banking that ensures privacy. This is why the EU has passed many laws to stop banks doing nefarious things with the breadcrumbs that we leave due to our transactions

[em0nm4stodon@infosec.exchange]

@webhat @ParadeGrotesque What I mean is a solution that would practice data minimization, protect well the information it has to collect, and would not monetize this information with external partners (everywhere, not just in Europe). This would be privacy-respectful in the payment-processing world, compared to currently available solutions. Nothing will be anonymous, of course.

[karlheinzhaslip@climatejustice.social]

@Em0nM4stodon Bank of China

[naturemc@mastodon.online]

@rhelune We have 2 different initiatives in the EU:

- Wero, a private-sector initiative by the European Payments Initiative (EPI): https://europeanbusinessmagazine.com/business/europes-24-trillion-breakup-with-visa-and-mastercard-has-begun/

- and the EU-states initiative EuroPA for installing a central bank-backed digital currency usable across the eurozone: https://www.ecb.europa.eu/euro/digital_euro/html/index.en.html

And yes, the first step to become independent of US data-collectors is Wero.

@Em0nM4stodon

[michaelgemar@cosocial.ca]

@Em0nM4stodon @GhostOnTheHalfShell And while we’re at it, isn’t prudish about processing payments for adult-oriented businesses.

[kkarhan@infosec.space]

@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.
  
  • And so far is likely gonna have less acceptance retail than #AliPay, #WeChatPay, #JCB & #UnionPay in the #EU. Those 4 don't even allow people outside the "P.R." #China (or in the case of JCB: #Japan) to make an account.
• #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!

[cmars@infosec.exchange]

This post is deleted!

[paradegrotesque@mastodon.sdf.org]

@Em0nM4stodon

If that's the case, then there are multiple initiatives in Europe to do that.

Wero and the EU commission digital euro are the two that come to mind.

The goal of both is to have Europe controlled digital transactions and money transfer facilities between banks all over Europe.

You can also take a look at things like GIE "Carte Bleue", which is France credit card system. There are similar systems in other European countries, which are US independent.

@webhat

[paradegrotesque@mastodon.sdf.org]

@kkarhan

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.

@Em0nM4stodon @signalapp @techlore