The Limited Times

Now you can see non-English news...

Visa and Mastercard, the American giants of the banking transaction that make Europe salivate

2020-06-30T10:28:41.371Z

An ECB-supported project aims to create a new European payment acceptance system. The challenge is colossal.



The experience can be replicated everywhere, at little cost: open your wallet and take out your bank card. In the vast majority of cases, this will include two logos, the first French, "CB", and a second American, often "Mastercard" or "Visa". Without warning, it's a great duel of "schemes", named after these intermediaries who organize banking transactions, which is played in your pocket. With each payment, a small commission and a myriad of personal data in fact pass to one or other of these "schemes", in France or the United States. Against the backdrop of major challenges in terms of sovereignty and protection of personal data.

Read also: Facebook, Visa, PayPal, Uber, Spotify and MasterCard create digital currency

In February 2020, a report was submitted to the Ministry of Economy and Finance to explore the possibility of creating a European "scheme", and repatriate to the Old Continent the payment data and the commissions that go with it. This European project, called EPI for European Payments

This article is for subscribers only. You still have 88% to discover.

Subscribe: € 1 the first month

Cancelable at any time

Enter your email

Already subscribed? Log in

Source: lefigaro

You may like

Trends 24h

Business 2020-07-04T00:49:10.567Z
Business 2020-07-04T21:09:34.712Z

Latest

business 2020/07/04    

© Communities 2019 - Privacy