EU banks create Wero payments to reduce reliance on Visa, Mastercard - report [Seeking Alpha]
Mastercard Incorporated (MA)
Last mastercard incorporated earnings: 4/29 08:00 am
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Source: Seeking Alpha
The news indicates that threats to the two companies dominant status are emerging as regulators continue their antitrust scrutiny of the two firms. On Tuesday, the U.S. Department of Justice sued Visa V ), alleging that it's maintaining an illegal monopoly in the debit card market. Deutsche Bank ( NYSE: DB ), BNP Paribas ( OTCQX:BNPQF OTCQX:BNPQY ), and Worldline ( OTCPK:WWLNF OTCPK:WRDLY ) are among 16 European banks and payment processors that have created Wero, a platform rolling out across much of Western Europe, Bloomberg reported. The system would eventually let, for example, a German customer settle with a company in a business, such as a hotel in France, through their own bank account, rather than a Mastercard or Visa card. Sidestepping the two major companies could cost Visa and Mastercard billions of dollars in swipe fees that they charge European merchants, Bloomberg said. The move embodies the move to on-shore businesses by shifting dependence for an essential servi
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News
- Driving growth in the digital economy [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Best UK Prepaid Cards 2024 [Forbes]Forbes
- Is Visa a Buy Now? [Yahoo! Finance]Yahoo! Finance
- Mastercard and ZOOD partner to launch the first virtual Buy Now Pay Later Card in Uzbekistan [Yahoo! Finance]Yahoo! Finance
- Europe's Banks are launching new product to break the Visa/Mastercard dominance [Yahoo! Finance]Yahoo! Finance
MA
Earnings
- 8/1/24 - Beat
MA
Sec Filings
- 9/27/24 - Form 144
- 9/23/24 - Form 4
- 9/20/24 - Form 144
- MA's page on the SEC website