You've described Bancontact, the standard Belgian payment system since the 1980'... | Hacker News

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		hyperman1 on Aug 18, 2024 \| parent \| context \| favorite \| on: Ask HN: Do we need to pay billions in fees to Stri... You've described Bancontact, the standard Belgian payment system since the 1980's or so. I suspect most EU countries have similar stories. Paypal etc basically exist to deal with the backward underinvested USA payment systems.

erichocean on Aug 18, 2024 [–]

But @oldprogrammer2 claimed it was just "innovation" and not create-a-problem, rent-capture-the-solution.

Now I'm confused. There's a better way, and other 1st world countries have already adopted it?

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