Payments News

PEPSI, this initiative of European banks to counter Visa and MasterCard

Nov 06, 2019
"It is also enough that an upset American President takes the decision to cut the payments and there, we will see our dependence" – in its investigation, the agency France-Presse sheds light on the initiative of European banks to set up their own payment device.
And if Europeans could pay without passing through the American Visa, MasterCard or another foreign giant of tech? Twenty European banks, backed by the ECB, are working behind the scenes on this issue, which has become strategic with the rise of political and commercial tensions, AFP informs.

Sheltered behind a code name in the shape of a joke, "PEPSI", for Pan European Payment System Initiative, these banking institutions, among the most powerful in Europe, have been thinking for some months about the creation of a purely European payment system, confirmed to AFP four sources involved in this project.

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