European banks launch European payment system to fight American Visa

Take back control of our bank data! This is the watchword of European banks. The latter are launching a European payment system with one objective: to no longer go through the American Visa. It's pretty incredible, but when you are in Spain, Italy, or Germany, therefore in the heart of the euro zone, if you want to pay with your credit card in a restaurant or elsewhere, the organization that will pay and who will ensure the piping between European banks is necessarily American. You can choose between Visa or MasterCard.

More serious, on all American platforms, Uber type, when paying, you go again by Visa or Mastercad. So, you see, the Americans are taking over the European banking piping. It is doubly annoying. First, you now know that the Americans, with Donald Trump, no longer hesitate to use their position of strength to engage in blackmail. And then, second thing, in the era of data, data, as we say, the piping is an excellent observatory to see what is happening. Put another way, Visa knows a lot about the consumption habits of Europeans.

European banks have therefore decided to create a "Visa", or a "Mastercard", European! Sixteen major European banks (Germany, Belgium, Netherlands, France, Spain) will launch an independent European banking system which will not be called Visa but Epi for "European Payement Initiative".

So leave it to create something new, as much as it is better. So we are promised an immediate payment system 24H / 24 and where we can make a transfer between Europeans, with a simple phone number. No need for the RIB or the dreaded Iban code with its 23 characters!

It is gratifying to see that Europeans are able to get along with more simplicity and more sovereignty. With this PPE, we will facilitate payment between Europeans and regain control of our bank data.