UK bank bosses plan to set up Visa and Mastercard alternative amid Trump fears

https://www.theguardian.com/business/2026/feb/16/uk-bank-bosses-plan-visa-mastercard-alternative

About damn time!

I never understood how such a foreign duopoly was able to be created in an industry we dominate in.

106 points · 5 comments · view on lemmy.world

5 Comments

angrywaffle@piefed.social · 37 pts · 181d (3 replies)

However, the UK is taking a less aggressive stance, with Visa and Mastercard working within the initiative. Both companies are part of the new funders group, giving them a stake and a say alongside a large number of banks.

Brilliant, let the american companies have a say.

Piatro@programming.dev · 6 pts · 180d

Thats the British way!

masterofnone@piefed.social · 4 pts · 180d

Probably just an unfortunate reality for companies that do big business together to work towards a third option. Hopefully it can at least lead to a third or 4th option depending what happens with the EU plans.

GMac@feddit.org · 2 pts · 180d

Came to say the same thing. But then again I shouldnt be surprised, bankers and politicians seem to really struggle with concepts like 'conflict of interest'

Pipster@lemmy.blahaj.zone · 5 pts · 180d

I remember we had Switch and Solo, they also got merged into Mastercard (Maestro)...