Visa could be forced to buy the Visa Europe payments system, paying billions of dollars, under a plan being discussed by the European banks that own the business, The Wall Street Journal reported.
The financial groups that own the European business are reportedly planning to set up their own payments business that would compete against Visa and MasterCard to process credit- and debit-card transactions.
“Bringing Visa Europe in-house could help the company directly tap fast-growing markets like Turkey and Poland and bolster its competitive edge against other players, including rival MasterCard, which runs a smaller payments network but owns its European operations.” the paper wrote.
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