UK banks to meet over possible Visa and MasterCard rival

UK banks to meet over possible Visa and MasterCard rival

British bank executives were set to hold a first meeting on Thursday over a possible national alternative to dominant US payment systems Mastercard and Visa as President Donald Trump’s policies causes economic sovereignty concerns. The London conference is being held after UK Treasury launched plans to modernise infrastructure used for the country’s payment systems amid […] The post UK banks to meet over possible Visa and MasterCard rival appear…

UK banks explore homegrown payments network to rival Visa and Mastercard

Senior UK banking leaders are discussing a domestic card payments network. The move is driven by resilience concerns and geopolitical risks. The proposed system could be operational by the end of the decade.Senior executives from some of the UK’s biggest banks are moving ahead with discussions on creating a domestic payments network, in what could become a long-term alternative to Visa and Mastercard. The proposed UK payments network, aimed at s…