this post was submitted on 20 Dec 2025
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Our payment systems are too dependent on the USA (omni.se)
submitted 3 days ago* (last edited 3 days ago) by DreasNil@feddit.nu to c/buyeuropean@feddit.uk
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The governor of the Central Bank of Sweden comments our payment systems.

Hereโ€™s an AI translation of the text into English:

"Given the geopolitical situation, it is important to create European systems in a number of areas. This is according to Riksbank Governor Erik Thedรฉen in an interview with Ekotโ€™s Saturday program, where he emphasizes that Swedenโ€™s payment systems should not be as dependent on the USA as they have been. As an example, he points out that the two dominant credit card issuers, Mastercard and Visa, are American. 'It is probably wise to consider that we should also have European or Swedish systems that function in case the American ones do not,' he says. According to the central bank governor, Swish is 'a certain complement.' He also highlights that other countries, such as Denmark, have their own national credit cards."

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[โ€“] falseWhite@lemmy.world 28 points 3 days ago* (last edited 3 days ago) (2 children)

Haven't seen any shops supporting no Wero though, whereas you can visa and MasterCard in virtually any shop in the world.

A LOT of catching up to do, before it could actually be used realistically by people. Maybe banks can use it internally.

[โ€“] BarHocker@discuss.tchncs.de 6 points 3 days ago (1 children)

Fair point, however, it is happening. They already outline the payment process and it seems simple enough to implement, at least for payment by smartphone.

Scan QR code with your banking app, confirm payment, done.

[โ€“] DreasNil@feddit.nu 9 points 3 days ago (1 children)

The scanning of the QR code is unfortunately a bigger issue than one can imagine. Takes slightly longer and is slightly more complicated than just blipping your credit card. Enough so to dissuade most people to use it.

[โ€“] Renohren@lemmy.today 2 points 2 days ago

With the credit cards, you still need to get android wallet, Apple pay, authenticate, do the NFC dance...

Many European countries already have local parallel systems already for pin and chip cards, Visa/MasterCard is already a secondary system if the card is used within the country's border despite the huge logos.

[โ€“] Renohren@lemmy.today 2 points 2 days ago* (last edited 2 days ago)

It hasn't been rolled out to brick and mortar yet. This is planned in Q4 2026. ( And yes: they have planned much lower fees than visa/MasterCard and simpler P.O.S setups where existing hardware could be used).

The EPI (European Payment Initiative , a grouping of 16 European banks and financial institutions) is deliberately doing a slow launch though the tech behind it is all set up.

They don't want to F-up with people's money.