Now I'm once again wondering what it'd take to set up a cooperatively owned payment processor.

The internet have so much potential in allowing connections between individuals to also be a significant part of "the economy", but that requires having infrastructure that doesn't actively work against such an ideal.


The Visa organisation operating within Canada was originally a Co-operatiive.

Look at the UK-based Credit Union network.

Those are Financial Co-operatives.

They provide banking services, as well as having the capability to offer Business Banking. :D

@BillySmith a banking service / bank is not a payment processor. There's plenty of coop banks all over the world. And whether the Canadian branch of Visa used to be a co-op, doesn't help either than to show what not to do.


Sorry, but i'm probably missing some background.

What sort of functions do you want a payment processor to do?

@BillySmith process payments from one person to another. PayPal and Stripe are the two biggest payment processors I know of.


Ok. :D

The Credit Union network would be worth talking with, as they've already got most of the necessary technical, regulatory, and, legal, infrastructures in place already. :D

It would be another service that they could offer their members.

Is there a Credit Union in your area?

@BillySmith there's a good number of credit unions in Denmark, but I'm not sure they'd be interested in a project to build a new payment processor that matches my vision.


They might be interested.

You'll never know unless you ask. :D

Why not have a chat with some of the staff from them?

Also, in the UK, the Credit Union network has a national network that allows them to get better bids on maintaining their computer networks, as well as organising some of their information campaigns.

The Danish Credit Unions will have a similar body.

Chat to the people in their IT department. :D


I also came across an EU-funded project that was aimed at Financial Inclusion.

I can't remember that name of the project, but this sort of co-operative payments-system, would be right for them, and it's one way of getting paid to build it... :D

Sign in to participate in the conversation

The social network of the future: No ads, no corporate surveillance, ethical design, and decentralization! Own your data with Mastodon!