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Fair enough. Clearly I’m not that in the loop on the details, and I agree there should be a way to use it without relying on smartphones. I don’t use a banking nor paypal app today either.

But Visa and Mastercard are making a big play to shift the European market towards the US model where their credit cards are used for everything, so time is of the essence. For that reason I’m okay with some drawbacks, because there’s at least a chance they will be addressed down the line. Also combating the payment duopoly and circumventing US-based systems are major wins for consumers already. I further hope it would hopefully over time see adoption in other countries as well as a real alternative to CCs when travelling.

I was talking about offline processing. But the 14-day return (and other consumer protections) hinge on the vendor playing along. If they don’t, your bank just says “you authorized the transaction, SOL”.

This is the reality with SEPA transactions even in cases of blatant fraud. Your bank tells you to sue the recipient in court, they won’t do a thing for you.

Money transfers are too slow, too cumbersome, and do not offer any consumer protection. They aren’t designed for POS processes or small-time transactions.

Yes, replacing PayPal is exactly what this is supposed to do, plus VESA Debit and Maestro which are already a thing of the past.