this post was submitted on 15 Mar 2025
127 points (97.7% liked)
BuyFromEU
2404 readers
782 users here now
Welcome to BuyFromEU - A community dedicated to supporting European-made goods and services!
We also invite you to subscribe to:
Logo generated with mistral le chat Banner by Christian Lue on unsplash.com
founded 3 weeks ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Well, isn’t visa and Mastercard part owned but the banks? Perhaps a similar system is the only way to make it work. It seems odd that with a unified market for services, payment processing needs to be a bank registered in each country. I assume that is why it’s an issue. It should be possible for any processing within the euro zone to be instant between countries and not need a seperate licence for each. Revolut already does quick easy transfers even between non euro countries. I wonder if a bank like that could do it? I think as a bank they are on,y registered in one country, so maybe I’m wrong on the need to register everywhere.