Skip to player
Skip to main content
Skip to footer
Search
Connect
Watch fullscreen
Like
Bookmark
Share
More
Add to Playlist
Report
Is the EU banning American credit cards?
euronews (in English)
Follow
5 months ago
Is the EU banning American credit cards?
Social media users allege that ECB President Christine Lagarde has announced plans to get rid of the likes of Visa, Mastercard and PayPal.
READ MORE : http://www.euronews.com/2025/04/16/is-the-eu-banning-american-credit-cards
Subscribe to our channel. Euronews is available on Dailymotion in 12 languages
Category
🗞
News
Transcript
Display full video transcript
00:00
Is the EU banning American credit cards?
00:08
Viral social media posts are claiming that the European Union wants to get rid of American
00:12
payment cards such as Visa and Mastercard, as well as foreign online payment platforms
00:17
like PayPal and Alipay.
00:19
These posts on Ex say that European Central Bank President Christine Lagarde made the
00:23
announcement and that she's planning to replace them with European alternatives.
00:27
Some post in Dutch even says that Lagarde wants to replace these payment methods with
00:31
the central bank's incoming digital euro.
00:34
However, Lagarde's words have been taken out of context.
00:37
A Google search takes us to an interview she gave to Irish radio station Newstalk on 2 April,
00:43
in which she warned that Europe must end its reliance on US and Chinese technology.
00:47
At around the 6 minute 20 mark, Lagarde stresses the importance of Europe being able to take
00:52
control of its own digital payments.
00:55
Whether you use a card or whether you use a phone.
00:59
Typically, it goes through Visa, Mastercard, PayPal, Alipay.
01:04
Where are all those cards coming from?
01:05
Well, either the US or China.
01:08
And the whole sort of infrastructure mechanism that allows for the payment, credit and debit
01:15
is not a European solution.
01:16
That is the point, which is where I think that we have to reduce that vulnerability and make
01:23
sure that there is a European offer that is available just in case, you never know.
01:27
So, with her words in context, Lagarde makes it clear that she wants there to be a European
01:31
alternative existing alongside these US and Chinese payment methods. She didn't mention getting rid of
01:37
them. We also reached out to the European Central Bank, which confirmed that it's not advocating
01:41
banning these payment systems. Amid continued misinformation that digital currencies would
01:46
replace cash, the ECB once again assured that the digital euro would complement cash and existing
01:52
digital payment methods.
Be the first to comment
Add your comment
Recommended
1:18
|
Up next
Amazon halts ban on Visa credit cards for UK users
Bang Tech News
4 years ago
3:44
Why Americans are so anxious about paying off their credit cards
The Street
10 months ago
1:46
Mastercard goes 'numberless' in bold change to credit, debit cards
Australian Community Media
8 months ago
8:47
9 Credit Card Mistakes Most People Don't Even Realize They're Making - 1breakingnews.com
1BN-RADIO
3 years ago
2:08
Credit Card delinquencies are on the rise again
The Street
8 months ago
0:56
Credit Card Hacks
Entrepreneur
7 years ago
0:38
Visa And Mastercard Shares Fall As Senate Passes GENIUS Act
Benzinga
3 months ago
1:59:12
[Eng sub] Seven kneel she walks away Full Episode #Moviecoveragetrailers #FullMovie
Movie Coverage Trailers
11 hours ago
1:29:03
[Eng sub] Revenge on my Ex- I made his biggest rival fall in love with me... And now he's begging! Full Episode #Moviecoveragetrailers #FullMovie
Movie Coverage Trailers
12 hours ago
2:44:46
[Eng sub] From Doormat to Queen Full Episode #Moviecoveragetrailers #FullMovie
Movie Coverage Trailers
14 hours ago
1:41
Boys and Coach Rescued from Cave in Thailand
i24NEWS (English)
7 years ago
1:10
Olmert's advice for Netanyahu
i24NEWS (English)
7 years ago
1:41
Olmert reflects on Gaza under his premiership
i24NEWS (English)
7 years ago
1:38
Female Reporter from Pakistan in Difficult Situation
Best Right Way
9 years ago
2:17
Mathira Abuse on Live Call During Talk Show
Best Right Way
9 years ago
11:40
Latest news bulletin | September 25th, 2025 – Morning
euronews (in English)
1 hour ago
2:06
MEPs urge support for Iranian civil society three years after Mahsa Amini's death
euronews (in English)
11 hours ago
12:00
Exploring how Qatar is redefining hospitality with art, architecture and experience
euronews (in English)
11 hours ago
1:07
Spanish defence minister's plane hit by GPS 'disturbance' over Russian enclave
euronews (in English)
13 hours ago
11:51
Latest news bulletin | September 24th, 2025 – Evening
euronews (in English)
14 hours ago
1:00
Trump’s UN visit marked by malfunctioning escalator and teleprompter
euronews (in English)
14 hours ago
1:32
China gives up WTO developing-country status as tariff tensions linger
euronews (in English)
15 hours ago
1:00
At least 15 killed as typhoon rains cause deadly flooding in Taiwan
euronews (in English)
15 hours ago
2:23
Euronews Montenegro officially launches, expanding regional media presence in Western Balkans
euronews (in English)
16 hours ago
2:23
Ending Russian energy ties is a political choice, says Latvia's President Rinkēvičs
euronews (in English)
16 hours ago
Be the first to comment