UK seeks alternative to Visa and Mastercard ...News

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UK seeks alternative to Visa and Mastercard
source : Russia Today ( News ) () 43
The British government has urged the banking sector to reduce reliance on US payment networks The UK should develop a “digital alternative” to challenge the dominance of US credit cards Visa and Mastercard, a government-commissioned review said this week. “While cards make a tremendous contribution to the payments landscape, we heard notable dissatisfaction with the cost of card schemes on the part of shops, services, and other merchants – which may be in part due to a lack of choice or digital alternatives to the existing card schemes,” the review said. The conclusions of the report, called the ‘Future of Payment

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