Speaking on The Pat Kenny Show, Lagarde underscored Europe’s dependence on foreign digital payment infrastructure. “Visa, MasterCard, PayPal and Alipay are all controlled by American or Chinese companies,” she noted, arguing, “We should make sure there is a European offer.”
Yes please! And not a minute too soon…
EMVCo is one of the most vile, most egregious cartels in the history of humanity. Basically, they hold everybody’s balls in their hands and there’s nothing anybody can do against them. If you have a business and they don’t like your business, they’ll cut you off the payment network and they’ll kill your business. Just like that. Without court order or any form of legal process. It’s happened many times, with PornHub and WikiLeaks for example, and somehow those gangsters are still allowed to operate worldwide.
Fuck Mastercard, fuck Visa and Fuck Amex with a stiff wire brush.