Europe's $24 Trillion Breakup With Visa and Mastercard Has Begun: What it Tells Us About the Future of Digital Payments Europe's discontent with Visa and Mastercard has been building for years, driven by high transaction fees and restrictive network policies.
The relationship between Europe and its largest card issuers is one of frustration, particularly among smaller countries like Sweden and Denmark that have already begun to break away from the dominant duopoly.
The issue dates back to the early 2000s when Visa and Mastercard's market share began to rise rapidly.