Mojo ♻️1d ago

Europe’s $24T breakup with Visa & Mastercard has begun. ECB’s Lagarde warns almost all EU card/mobile payments still run on non‑European rails, sending spending data outside the EU. Now EPI + EuroPA are launching Wero, a pan‑EU wallet for 130M users to pay cross‑border without US networks. A huge shift for payment sovereignty—and data privacy.

#payments #fintech #eu #wero #datasovereignty

https://europeanbusinessmagazine.com/business/europes-24-trillion-breakup-with-visa-and-mastercard-has-begun/

Europe vs Visa & Mastercard: The $24 Trillion Payments Shift

Europe is building its own payments system and reducing reliance on Visa and Mastercard. Here’s why the $24 trillion shift matters now.

European Business Magazine
Show threadEricka Simone
@mojo @dalias wow. Had no ideal this was happening. They are really sick of America. Good for them.
Mar 31 at 3:53amWeb
Show threadDmian 🇪🇺23h ago
@ErickaSimone @mojo @dalias It’s not actually new. The pandemic made the EU realize that we were depending on a lot of foreign infrastructure and services. And the current US government made clear that former allies may not be it in the future. The EU is just trying to protect itself from catastrophes and problems it may encounter, and we want to be prepared.
Show threadEricka Simone10h ago
@dmian @mojo @dalias smart move, either way. I always knew there was a different payment system, the last few times I was in the EU, no one was taking MC and visa was barely accepted. It’s a good call.