✉news BusinessBanking first seen 12 h ago, last 5 h ago, peak #8
Digital euro plan targets Visa-Mastercard dominance in Europe
Original: Visa and Mastercard handle nearly half of Europe's card payments. The digital euro aims to change that
The European Central Bank's digital euro project is being framed as a way to reduce Europe's reliance on US card networks, with Visa and Mastercard currently processing nearly half of all card payments in Europe. The initiative is presented as a step toward European payment sovereignty, keeping transaction data and fees within the continent rather than flowing to American companies.
Why now: Ongoing debate over European payment sovereignty and the ECB's digital euro plans makes dependency on US card networks a live topic.
VisaMastercardEuropean Central Bankdigital euroEurope
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