Christine Lagarde: The European Union Needs to Create Its Own Alternative to Visa, Mastercard

Lagarde The second thing ░░░░░░░░ I think is really ░░░░░░░░ for all of us ░░░░░░░░ to have digital payment ░░░░░░░░ our control When you ░░░░░░░░ of it at the ░░░░░░░░ a lot of our ░░░░░░░░ payment when you pay ░░░░░░░░ know when you E ░░░░░░░░ or where peer to ░░░░░░░░ or you use your ░░░░░░░░ or your phone you ░░░░░░░░ rely on non European ░░░░░░░░ So I think controlling ░░░░░░░░ Explain that to me ░░░░░░░░ I wasn t aware ░░░░░░░░ this I presumed we ░░░░░░░░ all Lagarde Whether you ░░░░░░░░ a card or whether ░░░░░░░░ use a phone typically ░░░░░░░░ goes through Visa MasterCard ░░░░░░░░ Alipay Where are all ░░░░░░░░ coming from Well either ░░░░░░░░ U S or China ░░░░░░░░ the whole sort of ░░░░░░░░ mechanism that allows for ░░░░░░░░ payment credit and debit ░░░░░░░░ not a European solution ░░░░░░░░ I m a bit ░░░░░░░░ about this I didn ░░░░░░░░ realize this because it ░░░░░░░░ that every time I ░░░░░░░░ my credit card or ░░░░░░░░ my phone that information ░░░░░░░░ me is leaving the ░░░░░░░░ Union and going to ░░░░░░░░ United States I thought ░░░░░░░░ was not permitted Lagarde ░░░░░░░░ m sure they do ░░░░░░░░ you know in compliance ░░░░░░░░ European regulations But yes ░░░░░░░░ is that is the ░░░░░░░░ which I which is ░░░░░░░░ I think that we ░░░░░░░░ to reduce that vulnerability ░░░░░░░░ make sure that there ░░░░░░░░ a European offer that ░░░░░░░░ available just in case ░░░░░░░░ never know.”