ECB Selects Open Standards for Digital Euro, Bypassing Visa and Mastercard
The European Central Bank (ECB) has selected open European standards for the digital euro, bypassing global payment giants Visa and Mastercard. The digital euro will be built on non-proprietary infrastructure, allowing European payment providers to use the system without paying global card scheme fees. This move aims to reduce reliance on foreign payment systems and promote cross-border scalability for European payment services.
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Topics: digital euro ECB Mastercard open banking payment standards Visa