Reminder to the people reading this thread and overall comments, that in Europe everyone uses Debit Cards instead of Credit Cards.
Credit Card in Europe is very much associated with Debt.
cloudengineer94
How does digital euro replace credit cards? That's basically the same as direct debit. It doesn't address the reason why I use credit cards.
I use credit cards as a proxy for my bank accounts. I know that my issuing bank will protect me from all fraud so I don't have to worry about losing money if I buy something from a fraudulent merchant. I also know I can do things like chargebacks if I have to.
None of this is addressed by digital currency, it's basically like using cash which is haphazard today when there are so many scams everywhere around the world.
freediddy
How much you wanna bet that digital euro implementations will in practice depend on two US corporations? The EUDI wallet implementations being rolled out seem to so far. (Apple and Google, in case it wasn't obvious.)
ryukafalz
Can someone tell me why the EU doesn’t develop something like RuPay?
Indian UPI gets mentioned a lot, but when Visa, Mastercard didn't agree with data sovereignty rules among other rules, India quickly developed RuPay [0]. Now most debit cards in India are RuPay. CCs stand at 18% share.
They also integrate seamlessly to UPI.
Why doesn’t the EU consider something like that? They want to jump direct to digital currencies? Is that it? Something else?
[0]: Data rules came in 2017/18, RuPay was developed in 2012 iirc. But it got unprecedented push after the rule.
__rito__
Also clears the way to control how the digital euros can be spent.
No thanks.
Ideal/Wero is good.
Use my credit cards for larger online payments. Mainly because it has insurance and makes it easy to dispute something.
Last year a large Swedish clothing brand didn’t deliver 400 euros worth of clothing. They said they did. I have nothing. Customer service unhelpful. I disputed it with the bank where I have the credit card. The same day it was fixed.
peterspath
i hope the thing they roll out is a straight copy of pix from brazil. its fast, reliable, cheaper than debit cards and private (not anonymous but only the central bank can see your info). no corporations involved outside of support contracts and no stupid limits to make banks happy like this new proposal.
and there should be a right to use all payment methods in the constitution or whatever the eu equivalent is. all stores must accept digital euro and physical stores also accept cash. crypto shouldnt be a part of the system but protected from being made illegal in any member state, privacy coins especially.
I am still not quite sure how this would affect my day-to-day (private) payment experience transaction cost etc.
But is has strategic value for Europe:
> [...] European dependencies in critical technologies. A digital euro could mitigate these developments in the medium term if the infrastructure is mainly operated by European companies and if European payment service providers manage to achieve a leading position in the evolving ecosystem for digital euro services.
On an article like this, I encourage anyone giving an opinion based on their own experience to say what country it's from. (Or have this in their profile.)
Symbiote
This seems different than a credit card account though? I buy everything with my credit cards because I don't want to swipe my bank card at random merchants.
petcat
So who else thinks of some crypto scam when they see "digital euro" ?
comments (10)
Credit Card in Europe is very much associated with Debt.
cloudengineer94
I use credit cards as a proxy for my bank accounts. I know that my issuing bank will protect me from all fraud so I don't have to worry about losing money if I buy something from a fraudulent merchant. I also know I can do things like chargebacks if I have to.
None of this is addressed by digital currency, it's basically like using cash which is haphazard today when there are so many scams everywhere around the world.
freediddy
ryukafalz
Indian UPI gets mentioned a lot, but when Visa, Mastercard didn't agree with data sovereignty rules among other rules, India quickly developed RuPay [0]. Now most debit cards in India are RuPay. CCs stand at 18% share.
They also integrate seamlessly to UPI.
Why doesn’t the EU consider something like that? They want to jump direct to digital currencies? Is that it? Something else?
[0]: Data rules came in 2017/18, RuPay was developed in 2012 iirc. But it got unprecedented push after the rule.
__rito__
No thanks.
Ideal/Wero is good.
Use my credit cards for larger online payments. Mainly because it has insurance and makes it easy to dispute something.
Last year a large Swedish clothing brand didn’t deliver 400 euros worth of clothing. They said they did. I have nothing. Customer service unhelpful. I disputed it with the bank where I have the credit card. The same day it was fixed.
peterspath
and there should be a right to use all payment methods in the constitution or whatever the eu equivalent is. all stores must accept digital euro and physical stores also accept cash. crypto shouldnt be a part of the system but protected from being made illegal in any member state, privacy coins especially.
tancop
I am still not quite sure how this would affect my day-to-day (private) payment experience transaction cost etc.
But is has strategic value for Europe:
> [...] European dependencies in critical technologies. A digital euro could mitigate these developments in the medium term if the infrastructure is mainly operated by European companies and if European payment service providers manage to achieve a leading position in the evolving ecosystem for digital euro services.
Some more: https://www.ecb.europa.eu/euro/digital_euro/timeline/profuse...
ano-ther
Symbiote
petcat
nottorp