Sollte Kanada Alternativen zu Visa und Mastercard aufbauen? Die USA kontrollieren die überwiegende Mehrheit der Online-Zahlungen. Es ist ein Problem
https://thewalrus.ca/why-your-credit-card-is-a-national-security-threat/
Sollte Kanada Alternativen zu Visa und Mastercard aufbauen? Die USA kontrollieren die überwiegende Mehrheit der Online-Zahlungen. Es ist ein Problem
https://thewalrus.ca/why-your-credit-card-is-a-national-security-threat/
25 Kommentare
**In Brief:**
* In 2025, American-owned Visa and Mastercard controlled 96% of Canada’s credit card market.
* These networks can be weaponized, shutting countries out of global commerce.
* If the United Kingdom and Europe are urgently building out a Plan B, we should at least consider building our own digital payment infrastructure to protect our autonomy.
I’m not against it. But the problem is how do we get a Canadian alternative accepted world wide. Visa in particular, is extremely convenient when you travel world wide because it’s accepted in so many countries around the world. But yeah, I would love a Canadian alternative that is accepted world wide as much as Visa is accepted.
Chargex…. Yuck.
The moment you need to start asking retailers if they accept your card of choice, the battle is lost. I love the idea of Canadian independence, but this is a massive hill to climb.
Canada doesn’t need to make their own, they can just adopt whatever the EU comes up with. It doesn’t make sense for one country to have its own payment processor that no other country uses. Except if your population is like over a billion people.
More chances to debank us!
We should build something similar to the UPI in India or just copy their stack.
Feels like wishful thinking. But unfortunately if credit cards get weaponized against us, we’ll have far larger issues. Internet and data servers being number one.
Ask interac to develop a Credit Card platform/client that will run on the European solution internationally, and their own in Canada… Or both.
„Do you take Beaver-Gold card?“
Easier said than done. In reality, you can’t simply bypass Visa and Mastercard and launch a new system that seamlessly plugs into existing worldwide financial networks.
I mean it’s not too difficult to build a digital payment system. Just look at medium sized Asian countries like Indonesia, Malaysiaetc where homegrown epayment system dominates everyday transactions. Question is how urgently Canadians feel about breaking the status quo.
Interac is already very Canadian specific they could use their rails as a starting point.
For now I think we’d be better served adopting whatever the EU makes
We’re a nation of 40 million and our closest ally isn’t reliable anymore, stronger ties with the EU seems to be logical
Even if things get better with the US we shouldn’t neglect this partner
Canada could potentially partner with Europe to do something like this, but there’s no way it could go at it alone.
Europe is thinking the same. Time to team up!
No. Visa and MasterCard have spent decades building a worldwide network. At best we could have a cc that worked in Canada only. Not very useful.
Keep in mind these are networks. They don’t actually issue cards. Member banks do.
Also credit cards will face significant competition from stable crypto coins.
I mean with all the crypto implenentations out there why can’t we have a card that uses regular networks and is blockchain backed so it doesn’t need a whole infrastructure to use.
Yes.
And backed by bitcoin
Yes
Did you remember how long it took for Debit machines to be everywhere? It takes a very long time. A new card would take forever.
I’d love to see a better alternative to interact. The fact we have to worry about scams and banks taking money back when it’s already been transferred is so stupid.
As long as it works at Costco.
Absolutely, it is a question of sovereignty and national security.
I firmly support this!!!