European banks team up to take on US online payments dominance

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A collection of Europe’s biggest banks and credit card processors are joining forces in an attempt to create a payment giant able to take on a marketplace currently dominated by the US.

The plan, instigated by a Brussels-based company, has a deadline of September in order to develop a set of proposals designed to offer an online and in-store payment structure along with other options for settling bills as well as ATM withdrawals.

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