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Europe Fights Back On Payments

May 03, 2021 11:52 AM ET2 Comments
John M. Mason profile picture
John M. Mason


  • Europe banks have fallen way behind other countries, like the U.S., in terms of their payments systems and are now trying to catch up with those that control their markets.
  • The problem is that the banks and others that have joined together to build a competitive "European" alternative seem to be shooting to keep up with the current market-structure.
  • The future financial world is going to be very dependent upon how the payments system evolves so it is important to see what the Europeans are trying to do.

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The European Payment Initiative, or, EPI, is an organization of more than 30 of European’s largest banks and credit card processors aimed at taking on the United States oligopoly that dominates payments on the European

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John M. Mason profile picture
John M. Mason writes on current monetary and financial events. He is the founder and CEO of New Finance, LLC. Dr. Mason has been President and CEO of two publicly traded financial institutions and the executive vice president and CFO of a third. He has also served as a special assistant to the secretary of the Department of Housing and Urban Development in Washington, D. C. and as a senior economist within the Federal Reserve System. He formerly was on the faculty of the Finance Department, Wharton School, the University of Pennsylvania and was a professor at Penn State University and taught in both the Management Division and the Engineering Division. Dr. Mason has served on the boards of venture capital funds and other private equity funds. He has worked with young entrepreneurs, especially within the urban environment, starting or running companies primarily connected with Information Technology.

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Comments (2)

j. hughes profile picture
@John M. Mason
Dr. Mason,
Although I do not always agree with what you write, you are a true visionary when it comes to the New Modern Corporation and the advantages of scales.
A religious person might compare it to the bible. The legacy companies being the old testament and the Modern being the new. It won't be stopped even if they crucify you.
There is a tuff competition in the European financial market, especially in the banking market. Many banks missed the boat in saving costs and reorganizing. They first have to fight to survive. The banks who did their job like for example the Dutch ING prefer to gain market share.
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