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Comment by whazor | Hacker News Reader

EPI tookover iDEAL, which is a really good payment service launched in 2006.

The premise of European payment system is that consumers are protected via law and payments are dirt cheap. While Stripe charges in USA charges 2.9% + 0.30$ per payment, an iDEAL payment (with Stripe) costs only €0.29, that's it. For a television of 1000$, that is hefty 29.30$ payment fee.

Since Wero will be EU wide, it is cheaper to integrate for web shops. Why go to Stripe/Adyen if with a single integration you can get the entire European Union? Don't worry, the adoption will be there.

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I don't see anything on the Wero and ETI websites to suggest that WERO is a replacement for Stripe, Paypal or any other payment intermediary. On all the French sites, what comes across is ‘Wero replaces Paylib for payments between friends’.

For money transfers between individuals you know, there are already better solutions, including immediate SEPA wire transfers, Paypal and Sumeria.

The question of transferring money to a stranger or to a business, whether by contactless phone payment or a QR code, remains unanswered.

No, it is already confirmed that Wero will (also) replace iDEAL in 2025. Currently, iDEAL is also the base for payment requests (payments between friends). But iDEAL is also definitely an alternative to Paypal for buying stuff from online stores.

While Wero will not replace Stripe or Adyen, as these companies provide payment services, it does give companies better negotiation power. If an internal team of a big corp can build a payment integration themselves, they can negiogate a cheaper price at these. Before Wero, you would need to implement iDEAL, Bancontact, Trustly Sofort, Giropay, Przelewy24, Multiblanco, Paylib, and many many others. After Wero, its just one service targeting entire EU.

Why is it that we cannot provide a QR code money transfer solution in the US like they have in Singapore or India?

Banks are incredibly resistant to change. I've heard of projects costing several tens of millions of euros being abandoned because the estimated number of calls to customer service following a change of habit would have been too high.

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