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Walt: private alternative to Google Pay or Apple Pay (walt.is)
submitted 4 months ago* (last edited 4 months ago) by to c/buyeuropean@feddit.uk
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Found it interesting, something worth keeping an eye on. Hasnโ€™t released yet, planned date end of 2026.

Based in Copenhagen, I think.

The founder did answer some questions on reddit (user ColeFromWalt)

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[โ€“] 33 points 4 months ago* (4 children)

I understand they need that information to process payments, but whenever a company I have never heard of before asks for my credit card information it makes alarm bells go off in my mind

How can I trust this unknown company with my credit card details?

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  • [โ€“] 29 points 4 months ago (1 child)

    They say: "โ‚ฌ10 a year sustains infrastructure and annual audits."

    However, I don't, at a glance, see any audits on their website. And yeah, I'm going to want one of those before I trust my CC info to some random startup (it says: "Your card details never leave your device." But the software is seemingly proprietary, and without an audit, those words are empty.)

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  • [โ€“] [S] 14 points 4 months ago

    Yep, will be waiting for published third party security audit results and compliance reports. About open-source he said :

    Correct! It's not open source and at least for the foreseeable future, I'm planning on keeping it closed. Like JG mentioned, because of internal audit requirements that I'll be going through in Visa and MC over the next few months, I need to ease that pain as much as possible. They treat open source finance products with increased scrutiny.

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  • [โ€“] 9 points 4 months ago*

    You don't have to.

    As far as I can make out, by the time that they launch, they will have been audited and will have many other checks done, which should be enough for many.

    EU at least, has advertising regulations that should protect us enough to check out the app upon viewing any claims that they will have made by then.

    So by the time it comes to us actually being able to use the app, and assuming that they will have advertised and marketed it as a privacy focused alternative to Apple and Google pay, it should be trustworthy enough.

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  • [โ€“] 5 points 4 months ago

    Their security page makes it seem like your information is fairly untouched. But yea would not trust anybody with that either if I don't have access to the source code. (or other independent people that are smarter).

    I did actually went back to using my CC directly and not over Apple Pay to be less reliant mostly. But iirc one thing apps also do is providing an virtual card to the merchant obfuscating your real one. Not sure how much that's worth in practice but it is kinda cool.

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