Visa and Mastercard Handle Nearly Half of Europe’s Card Payments. The Digital Euro Aims to Change That
5 Articles
5 Articles
Visa and Mastercard handle nearly half of Europe's card payments. The digital euro aims to change that
The European Central Bank's €1.3 billion bet offers an alternative to the U.S. payments giants, but it faces an uphill battle to win over consumers, merchants, and banks.
The ECB is moving forward with a project that aims to offer a public alternative to Visa and Mastercard, but its success will depend on whether traders, banks and consumers adopt it against already consolidated options. *** Visa and Mastercard processed 47% of the value of euro area card payments in 2025, according to GlobalData. The digital euro pilot is scheduled for the second half of 2027 and 36 financial companies will participate in the te…
Visa and Mastercard process almost half of every euro spent on paper in the eurozone. To reduce this dependence, the European Central Bank is developing the digital euro, a new digital public currency designed as an alternative to US private circuits. Visa and Mastercard key points processed 47% of the value of card payments in the eurozone in [...]
Visa and Mastercard handle nearly half of Europe’s card payments. The digital euro aims to change that
“Payment systems are not neutral; they are instruments of power,” Gilles Boyer, a French member of the European Parliament, said in June. “We Europeans have had many wake-up calls about our dependence on the U.S. We are fully awake now.” That same day, the European Parliament’s economic affairs…
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