A 130-million-user payment system backed by 16 major banks just launched to challenge Visa/mastercard

It would be awesome if Canada could do this.

“Every time a European taps a card, pays online or splits a bill with friends, the transaction flows through infrastructure owned and operated by American companies.”

  • ZombieCyborgFromOuterSpace@piefed.caEnglish
    2·
    7 hours ago

    The only reason I’m paying with a credit card is because it costs me money to pay with my debit card using Interac. You get a limited number of transactions per month and you get nothing in return.

    With Mastercard/Visa, whenever I pay for something I get bonus points that I can use to pay off my bills.

    We need to make Interac the choice of payment method to customers. Maybe follow the credit cards’ example.

    • MajorMajormajormajor@lemmy.ca
      2·
      3 hours ago

      You also have much better consumer protection with a credit card. Dodgy machine steals your info and runs amok buying stuff? With a CC you contest the charges, get a new card, and the company fights to get their money back. With debit it’s your money, nobody will fight for you.