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
@mojo @stufromoz can we have one in Australia? That said, any Australian company likely to do the work would cock it up somehow.

@trib @mojo @stufromoz

We had it:

https://en.wikipedia.org/wiki/Bankcard

"As a result of a declining cardholder base, falling transaction volumes and shrinking market share in relation to internationally accepted credit cards such as Visa and Mastercard, the card was withdrawn from use in 2006."

Bankcard - Wikipedia