Sector Regulation Sector Regulation

Second challenger to Visa, Mastercard dominance gets EU Commission backing

By Jack Schickler
  • 17 Jun 2021 07:53
  • 17 Jun 2021 07:53
An EU payments initiative set up by leading eurozone banks to rival Visa and Mastercard is itself already facing competition from fintech companies — which have also won backing from the European Commission.

The longstanding dominance of US-led card networks and the arrival of newcomers such as China's Alipay has led to EU consternation that

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