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by MonkeyIsNull11 hours ago |
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upvoteby yardie11 hours ago|
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My wife found out her new card was Discover debit card right before her trip to France. Her bank sent her a new card unrequested. In an abundance of caution she activated the new card which automatically cancelled her debit Mastercard. Then when she landed in CDG found the new card didn't work anywhere.
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upvoteby Curiositiy11 hours ago|
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This is what these peeps advocating for an "EU-based payment system" don't get, as they typically don't travel worldwide. VISA + Master just work. Have a debit plus credit for one each. (And no, Google / Apple pay won't do it, everyone who calls themselves a "hacker" should know that you too often can't even pay for transport using a rooted phone).
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upvoteby markvdb9 hours ago|
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VISA + Master just work _for now_. Debanking Nicolas Guillou[0] was a financial Greenland.

Short-term negative-sum transactionalists are governing the US. Even if November stabilises things somewhat, the cat is probably out of the bag.

Trust comes on foot, but leaves on horseback. _That_ is why a well-integrated EU-based payment system is needed.

[0] https://en.wikipedia.org/wiki/Nicolas_Guillou

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upvoteby danelski10 hours ago|
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Aside from what the other commenter said about the hybrid systems, you proudly state that you have 4 cards at minimum, but having a system that would work continent-wide for ~98% of all money you spend would not bootstrap if someone needed to be bothered with having a separate travel card, which would rest in the drawer or as second Apple/Google/Garmin Pay choice most of the time? Most adults I know have 2+ cards already, it's just that they were issued by Master Card or Visa. American Express and Discover still exist, despite definitely not having worldwide coverage.
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upvoteby aveao11 hours ago|
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We do actually. The German Girocards were, until Maestro ceased to exist, often co-issued as Maestro + Girocard, and global acceptance was pretty good under the Mastercard network.

There are examples of other co-branded national payment systems out there (troy + Discover comes to mind).

If a European payment system (with cards, at a store) is to exist, then visa/mc will still want a piece of the pie by at least playing along to remain as a co-brand and taking their cuts from international payments.

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upvoteby tuetuopay3 hours ago|
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The idea is for the US to not be able to shutdown CC transactions at points of sale in Europe on a whim. All cards in europe are dual-issued under Visa or Mastercard, and under a national card payment processor. In France, that's CB (Carte Bancaire). When you pay in europe, it uses the European network. Outside, it uses Visa/Mastercard.

So sorry, we do definitely get what this entails :)

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upvoteby yosito11 hours ago|
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Yeah, really dumb move on the part of Chase bank. They'd previously marketed their accounts as being geared towards international travelers, but now their cards can't be used in much of the world.
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upvoteby qingcharles11 hours ago|
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Capital One just switched too.
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upvoteby AshleyGrant11 hours ago|
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https://investor.capitalone.com/news-releases/news-release-d...

They didn't just switch. They purchased Discover.

edit: added the "just"

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upvoteby LgWoodenBadger11 hours ago|
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Well, “just” as in “recently forced everyone to replace their cards” also works. My CapitalOne mastercard was deactivated January 14, even though it was still valid through 2030.
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upvoteby 11 hours ago|
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deleted
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upvoteby aveao11 hours ago|
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fwiw: Discover technically goes through amex network in EU, and amex acceptance varies from pretty good (e.g. germany) to pretty awful. Completely incomparable to visa and mc acceptance ofc.
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upvoteby maest9 hours ago|
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Just use wise or revolut.
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upvoteby direwolf209 hours ago|
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"Just" get another bank account before travelling. Right...
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upvoteby maest2 hours ago|
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I meant that as more of a long term solution. Even if your domestic bank supports overseas payments, they most likely screw you on the fx rates, so just get a specialised card like Wise or Revolut.

It's free, their tech is great and their fx rates are more than fair.

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