Financial transactions are the foundation of modern societies and few are the human exchanges that aren't in some way commoditised and measured on some form of ledger.
But if money makes the world go round, it doesn't always turn smoothly in Belgium. For a small developed nation it is remarkable how many payment methods there are, how inefficient they sometimes seem, and how the simple act of paying for stuff can be such a pain. If you're new here, just getting a Belgian bank account can be an ordeal, with several administrative hurdles to sort out before even walking through the door.
On top of this are the payment quirks that can only be explained by "Because it's Belgium". Take Bancontact, a payment "solution" that's great between users but much less helpful if you don't have a Belgian bank account. Given that Brussels is the most cosmopolitan city in Europe with many visitors and even residents using non-Belgian bank accounts, Bancontact often isn't the handy payment alternative it claims to be but rather a useless system that some vendors cite as grounds for charging extra on other card types.
And if you simply want to pay with cash, well that can mean taking a hike as ATMs have been largely removed from Brussels streets.
Given all the confusion, there's a case for a unified system that allows users across Europe to transfer money in seconds (without charging a hefty commission for the privilege). Which is where Wero comes in – a new payment service that has now launched in Belgium, Germany, and France.
The international app promises simplicity within the Eurozone and will benefit merchants as well, as the cost of using it will be significantly lower than US systems Visa and Mastercard. But until it becomes widespread, Wero might be seen as just another reminder that we still haven't nailed seamless transactions.
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