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The Independent UK
The Independent UK
Business
Karl Matchett

Britain’s biggest banks to create alternative to Mastercard and Visa

Mastercard Visa Donald Trump United Kingdom United States

The UK’s largest banks are set to meet this week to discuss the development of a national payments system, aimed at reducing the reliance on US networks.

Up to 95 per cent of card transactions made in the UK use systems owned by Mastercard or Visa, a report from the UK Payment Systems Regulator showed last year.

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