European Payments Initiative

16 results about this entity

Period: 08 Feb 2019 - 03 Jul 2024

/regulation

ECB cautions against the power of Big Tech in financial services and cloud provision

The European Central Bank has bemoaned the absence of an EU challenger capable of taking on the might of Big Tech cloud providers from the US.

/payments

Eurozone banks to take on Visa and Mastercard with home-grown payments platform

Sixteen major Eurozone banks have come together to start the implementation of a new payment system to take on the might of Visa and Mastercard and the threat posed by Chinese and US Big Tech firms.

ECB offers support to bank-backed alternative to Visa and Mastercard

The European Central Bank has welcomed an initiative by some of Europe's top banks to explore the development of a rival payment system to challenge the dominance of Visa and Mastercard and the threat from Chinese and US Big Tech firms

ECB chief says instant payments could break Visa/Mastercard duopoly

The European Central Bank is floating the idea of using instant payment rails to link up national card schemes as a means to break the duopoly enjoyed by Visa and Mastercard, who between them account for over 80% of all EU card transactions.