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How Europe's biggest banks plan to challenge US dominance in digital payments


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European banks and credit card processors are working to establish a new pan-European payment network to challenge the dominance of the US payments companies Mastercard and Visa and head off the threat from technology giants such as PayPal, Google and Apple.
The Brussels-based project, called the European Payments Initiative, began in July and is expected to go to market in the EU next year.
Thus far, it has received funding of more than $36 million from sponsors. Its backers include 31 European banks and credit institutions such as Deutsche Bank, UniCredit, BNP Paribas, ING, Societe Generale, Santander and Sabadell. It also has the backing of the European Commission as well as various financial regulators in the bloc. ....

Bruxelles Capitale , Societe Generale , Martina Weimert , Gilles Grapinet , Joachim Schmalzl , European Commission , European Payments Initiative , Deutsche Bank , European Payments , France Based Worldline , Monnet Project , Alkesh Sharma , Special Pages , ப்ரூக்ஸெல்ஸ் தலைநகரம் , சமூகம் ஜெநர்யால் , ஐரோப்பிய தரகு , ஐரோப்பிய கொடுப்பனவுகள் முயற்சி , டாய்ச் வங்கி , ஐரோப்பிய கொடுப்பனவுகள் , பிரான்ஸ் அடிப்படையிலானது உலக வரி , மாஂட் ப்ராஜெக்ட் , அல்கேஷ் ஷர்மா , சிறப்பு பக்கங்கள் ,