cross-posted from: https://lemmy.wtf/post/19420830
Bye bye Visa, Mastercard, Paypal, and many others. They can go and play "America First". We'll have our own independent system by november 2025.
https://www.ecb.europa.eu/euro/digital_euro/html/index.en.html#timeline
There's normally two different fees when doing a card payment: the interchange fee (Visa, Mastercard, and the couple others), and the processing fee (Square, Stripe, PayPal, whatever).
Nowadays, interchange fees are capped to like 0.3% in the EU, but this wasn't always the case. And for non-EU, the interchange fees are usually much higher.
So even if both a store and their payment processor is EU-based, Visa/MC is still giving at least 0.3% of your payment sum in most cases.