Girocard was actually still significantly cheaper than the capped credit and debit cards (0.125% end-to-end cost (!)), and yet now we're seeing banks drop it because MasterCard has threatened to stop business with any bank that doesn't drop it.
IMO, the EU should either break up MasterCard & VISA, nationalize them, or build their own system (maybe unify Girocard, Dankort, etc?) and make that mandatory.
The difference between the MasterCard & VISA fees and e.g. Girocard fees is almost 2%. That's equivalent to paying an additional 2% tax on everything.
With that amount of money we could make all transit in the EU entirely free of charge and expand it quite a bit, yet all it's doing right now is make some rich assholes even richer.
Nationalizing a company that isn't really incorporated in your state is funny.
EU has already limited the interchange fees on domestic cards. Plus, basically every EU country has some kind of a homegrown system.
IMO, the EU should either break up MasterCard & VISA, nationalize them, or build their own system (maybe unify Girocard, Dankort, etc?) and make that mandatory.
The difference between the MasterCard & VISA fees and e.g. Girocard fees is almost 2%. That's equivalent to paying an additional 2% tax on everything.
With that amount of money we could make all transit in the EU entirely free of charge and expand it quite a bit, yet all it's doing right now is make some rich assholes even richer.