The launch of the digital euro could give every European a free, universal payment account. But this grand vision is at risk of being curtailed by a well-coordinated lobbying campaign of the banking industry. Banks want to make sure you will keep needing them – and they have EU officials’ ears.

The launch of the digital euro could give every European a free, universal payment account. But this grand vision is at risk of being curtailed by a well-coordinated lobbying campaign of the banking industry. Banks want to make sure you will keep needing them – and they have EU officials’ ears.

  • @SamsonSeinfelder@feddit.deEnglish
    56•3 months ago

    VISA will be the main driver to protect the old system where they control the network and the mechants-fees. That is what makes them money. Billions years over years.

    The Podcast “Aquired” has a 3h long podcast that tells the crazy story of VISA, its founder and how they came to control the market. If anyone will do anything in its power to not liberalize the payment landscape, then it will be this very Company. It will go thermonuclear on their revenue stream.