Paypal is quite popular in Germany but with Wero that popularity will decrease significantly. I expect that all around the Europe.
Paypal is quite popular in Germany but with Wero that popularity will decrease significantly. I expect that all around the Europe.
PayPal Germany is a different beast. Germans are the only country that majorly doesn't rely on Credit Cards when doing online payment.
Paying with Paypal is as easy as logging in. With Wero/iDeal you always need a phone or a code. People trust PayPal more too.
Wero has a for merchant/commerce part that integrates with PSPs. For instance Adyen: https://www.adyen.com/knowledge-hub/wero
But we aren't there yet.
I don't get why you pointed out that, to be honest. I'm not a merchant. I am a consumer.
As a consumer I would like to avoid Master Card / Visa as much as possible and also giving numbers out as much as possible. Paypal allows that and I don't need to use my phone to approve payments. Moreover payment systems that prioritize the needs of merchants usually are horrible for consumers. If Wero becomes such a platform, I will avoid it.
I have not tried Wero, but I have tried the german predecessor (paydirekt/giropay). It was ... not much less smooth than PayPal.
But I’ve only ever seen a single vendor offering it. 0 for Wero so far.
In most countries, Wero is still in incubating stage. i.e., banks anouncing that in the next 3 years they will support it.
Of course it's not widely used by vendors when it's still in development. I am hopeful that it will take off to some degree in the nearest 5 years though.
I don't think vendors can offer Wero yet. I think it's part of the merger with other European companies.
That is what keeps confusing me when people hype wero. It essentially (I think some limited trials?) doesn't exist for B2C, and sending money to friends is a very minor use case.
So once it has really broad support and can be used as merchant, is when it'll maybe become interesting.
Well it's a nice thing to be able to send money across european countries only with a phone number even if it's only among consumers for now.
But it's been confirmed they are merging with companies that are already B2C in their own countries to bring a european B2C system
Wero is essentially iDeal. iDeal is great.
It is not. Wero has charge back support and therefor higher fees. There is quite some interest in Pay by Bank via PSD2 APIs. This is much more similar to iDeal and can work for the entire EU.
I've never used iDEAL but I assume the confusion comes from the fact checkout widgets (e.g. from Adyen) are transitioning from iDEAL to "iDEAL | Wero". I assume UX is the same, i.e. scan a QR code with your mobile wallet app?
If I understand correctly it's developed by the same people: Payconiq.
Great for merchants, not so much for consumers. Once the merchant has your money it's very difficult to get it back if things go wrong.
Which is pretty much the case with Visa and MC too. There's little card payment fraud in Europe thanks to mandated strong authentication, and very low transaction fees as interchange is capped by the EU; card issuers don't initiate chargebacks so easily.
What is the alternative? I am not sure i can get my money back once they leave the card.
I like your optimism.
I don't know if popular is quite the right word. It certainly is widely used though...