(Photo: Reuters)
The biggest banks in the European Union have spent years quietly creating a new way to pay that could finally allow customers to ditch their Visa and Mastercard cards — the latest sign that the region is looking to dislodge two of the most valuable financial firms on the planet.
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(Photo: Reuters)
The biggest banks in the European Union have spent years quietly creating a new way to pay that could finally allow customers to ditch their Visa and Mastercard cards — the latest sign that the region is looking to dislodge two of the most valuable financial firms on the planet.
Wero, as the project is known, is now rolling out across much of western Europe. Backed by 16 major banks and payment processors including BNP Paribas, Deutsche Bank and Worldline, the platform will eventually allow a German customer to instantly settle up with, say, a hotel in France using their own bank account instead of a…