French Payments Network Challenges EU Giants

France's CB payment network is reportedly preparing to challenge the dominance of Visa and Mastercard within the European Union. This initiative is being driven by concerns among EU officials who fear that the two major payment companies could leverage their market power against the region. The CB network aims to establish a stronger European presence, potentially offering an alternative to the established duopoly and fostering greater competition in the EU's financial landscape. This move could signal a significant shift in how European consumers and businesses handle digital transactions.