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flag EU officials urge reducing reliance on U.S. payment networks for security, cost, and sovereignty.

flag European Union banking officials are urging the bloc to reduce reliance on U.S.-based payment networks Visa and Mastercard, citing concerns over data security, transaction costs, and geopolitical risks. flag The call comes as the EU pushes to strengthen its digital infrastructure and build a more independent financial system. flag Officials highlight the need for a robust, homegrown alternative to ensure resilience and sovereignty in cross-border payments.

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