[quotz]

Cards are reliant on US companies -> Visa / Mastercard. The European Payment Initiative wants to remove reliance on the US. Perhaps there can be a ECB payment rail/network that would support cardlike payments too.

[pbreit]

So it's mainly a nationalism thing? Is that enough to displace the superior option?

[andor]

It's not really nationalism since this is a European effort across multiple countries. But for all of them, it will improve the national security posture.

The only superior aspect of Visa/Mastercard payments is that they are more widely accepted, and that's something that can be changed.

[hocuspocus]

I don't see where card schemes are inherently superior in the age of NFC payments.

There are huge countries (China, India, Brazil, ...) where people moved from cash to mobile payments.

Europe has always been in the forefront of this space, Swish exists since 2012, it's about time we get a pan-European solution.