The EU believes a digital euro is the answer to cutting its addiction to US payment systems like Visa and Mastercard as well as Apple Pay and Google Pay as the bloc seeks to favour European firms over others. According to the ECB, nearly two-thirds of card payments in the euro area are handled by non-European companies - mostly Visa and Mastercard.

BRUSSELS: The European Union (EU) believes a digital euro is the answer to cutting its addiction to United States payment systems like Visa and Mastercard, as well as Apple Pay…

The EU believes a digital euro is the answer to cutting its addiction to U.S. payment systems like Visa and Mastercard as well as Apple Pay and Google Pay as the bloc seeks to…