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European payments groups join forces to challenge US dominance

Major European payments companies have formed an alliance aimed at challenging the dominance of US providers such as Visa and Mastercard in the European market. The move, reported by RTÉ, reflects growing pressure in Europe to build home-grown payment infrastructure and reduce reliance on American card networks. Details of the grouping's members and concrete plans remain limited so far.

Why now: European efforts to reduce dependence on US payment networks are a live policy and business debate in the region.

European payments groupsVisaMastercardEuropeRTÉ

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• European payments groups join forces to challenge US dominance · vrganj · 58

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