Banks in Europe have issued debit and credit cards that operate on the USbased global networks for 60 years— since Visa was known as BankAmericard and Mastercard was known as Master Charge. Over those six decades, there has always been a sentiment among some card executives and government regulators to establish an indigenous card payment network in Europe. Currently, geopolitics is contributing to the idea of establishing European sovereignty over those card payments that occur in Europe. Financial industry regulators in Brussels as well as bankers in multiple countries are motivated by ...