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Europe’s $24 Trillion Breakup With Visa and Mastercard Has Begun
(europeanbusinessmagazine.com)
this post was submitted on 10 Feb 2026
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come on canada start taking notes
At least we have e transfers and debit unlike down south. I for one will be jumping on the first non us credit card however.
As an American, I just may do the same.
You do realize why we're scrambling to get a European credit card, right? I mean what's going to stop us from cutting Americans off when Trump decides to invade San Marino?
Oh I hope that they name it something mildly silly. Like "Lone'y" or "broke buckz"
We have debit. And etransfer for things like PayPal or Venmo.
How does debit work for fraud? Are banks more willing to refund when theres5fraud? In the US it feels like it's mostly on the user to bear
Depends on your bank, some have insurance on debit (like a credit card) but a lot in Canadian banks are moving to visa/MasterCard debit cards (since a bunch of our banks moved into the us market and are therefore tainted).
Ha, venmo is such a scam. And paypal is just as bad as MasterCard
How the fuck is venmo a scam? Jesus Christ what Idiocracy.
How is it not? They take a part of every fucking payment. Jesus Christ would not like it at all.
You mean like every company that charges a fee? That's not a scam, that's called business. Jesus Christ it's like people want everything for free and don't understand that it costs money to run a business. Credit cards charge interest, your bank charges fees, businesses price stuff over their cost. That farmer you pay for their vegetables charges more then it cost them to produce. These aren't scams. They are the cost of having services and good provided to you.
How much is the fee? Because last I checked it was not like an etransfer (included in most banking plans).
Unless I am using my business account, being paid for some sort of goods or services, or doing things like instant transfers into my bank account I've never been charged a fee on Venmo. I use Venmo to transfer money between me and my significant and other all the time,c I send money to my friend all the time. Hell I've used Venmo to pay my employees through my personal account and never had any issues.
How about JCB?
Jbc?
Japan Credit Bureau
Ah, are they world wide and less corrupt?
A lot of countries in Europe already have their own country-wide payment systems.
What we're seeing now in Europe is the stage where those multiple country-specific systems become interoperable and a new international payment system appears.
Canada only needs the kind of thing which has been not just available but actually dominant for decades in countries like The Netherlands and Portugal.
Canada has Interac but turned it in a for profit.
The Bank of Canada has considered a digital CAD but not started anything yet. Maybe they are taking notes?
Meanwhile, we could give biz the option to lower their prices and in exchange pass down the cards fees to customers (transparently of course, big display: Visa +n1%, Mastercard: +n2%, ...). The current system makes all prices higher but cards provide rebates or other benefits. That's pretty much a tax on the poor who can't access "high end" credit cards.