[influxmoment]

Use of one bank's credit card is voluntary and not mandated by the central authority. It's the difference between choosing to only read the New York Times or a government enforcement of one source of news

[hikingsimulator]

Is it? I can't see living in Europe without an IBAN for instance -- and the card that comes with one. And that's not something the government is enforcing.

Same in the US, you can't not have a credit card because of the credit score system there. Use of a credit card is mandatory because you need it to financially "exist."

[HPsquared]

There's a big difference between being able to borrow money, and being able to function.

[Schroedingersat]

Not when "being able to borrow money" is used as a proxy for employability and whether to rent to someone.

[influxmoment]

Competition and divided roles keeps these systems somewhat functional. Put them all under one authority and almost certainly see an increase in abuse

[tpm]

Living without a bank account ('IBAN') in the EU would be hard today. Living without a debit card is still doable, but becoming less and less practical. Living without a credit card is completely normal, many people do not own one, including me.

[searchableguy]

> and the card that comes with one. And that's not something the government is enforcing

They are. Most countries impose additional regulatory compliance on businesses which deal with cash making it costly to handle.