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European payments groups
Trends
- 1European payments groups join forces against US dominance●European payments groups join forces to challenge US dominance
A group of European payments companies has formed an alliance aimed at reducing reliance on US-dominated payment networks. The initiative reflects growing pressure in Europe to build home-grown payment infrastructure and lessen dependence on American providers such as Visa and Mastercard. The move is being discussed as a significant step toward greater European financial independence.