This episode explains how Visa and Mastercard came to dominate global card payments — and why Europe is now building alternatives. We cover the origins of the duopoly, how the bank–network relationship fuels it, and why new fintech tools still often rely on card rails.

We then dive into Europe’s strategy to regain control: instant payments, open banking, SEPA Instant, and the European Payments Initiative’s new digital wallet, Wero. The episode closes with a look at what a post-duopoly Europe could look like by 2030 and what it means for regulators, banks, fintech founders, and investors.

Music from #Uppbeat
https://uppbeat.io/t/tatami/ride-and-prejudice