Mojo ♻️3d 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 threadkauer3d ago
@mojo I wonder if anyone will be able to use it? Much as anyone in the world can use Visa and Mastercard.
Show threadRaphaël V3d ago
@kauer @mojo I don't think the intention is to replace card networks entirely, but it already works as an alternative way of paying online. It's more of a PayPal equivalent.
Show threadHuman after all
@raphv @kauer @mojo PayPal was European but of course Europe didn’t want it
Mar 31 at 12:12pmWeb