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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1. Saint-Josse election scandal: New allegations of ‘illegal’ practices
"There is a whole string of incorrect things happening." Read more.
2. The new international payment system: How good is it really?
Payments with the new system will be fast and free, work across borders and don't require bank details to be shared. But, there are still many limitations. Read more.
3. Asian webshops are unfair competition; Belgian retailers call for ‘level playing field’
Belgian retailers want customs duties to be imposed on parcels worth less than €150, which are currently exempt from duties under European law. Read more.
4. Audi Forest: Unions hold ‘commemoration’ for Volkswagen plant closure 18 years ago
"This symbolic commemoration is important to unite the former Volkswagen workers with the current Audi employees." Read more.
5. DHL planes to partly fly on frying oil from Brussels Airport
DHL will use an environmentally-friendly fuel made from sources like used cooking oil and animal fats. Read more.
6. Belgium’s first snow: Traffic disruption and delayed flights
Commuters woke up to busy roads and icy conditions on Thursday morning after Belgium's first snow fall last night. Read more.
7. Brussels Christmas tree arrives at Grand Place
This year's 20 meter tall tree was sourced from a private garden in Wallonia. Read more.
