payment competition

UK banks announced plans to create a domestic alternative to Visa and Mastercard, aiming to reduce dependence on US payment networks and enhance financial resilience. This initiative is part of a broader global trend toward monetary sovereignty, accelerated by the election of Donald Trump and geopolitical tensions. The future of payments is expected to be hybrid, with cash playing a crucial role alongside digital innovations.

A US-based merchant is suing Apple, Visa, and Mastercard for allegedly conspiring to thwart competition for point-of-sale card services, leading merchants to pay inflated fees for credit and debit transactions.