Warnings are rising among European businesses concerning the near-total dominance of the American companies Visa and Mastercard in the European payment market. As geopolitical tensions escalate, officials express concern that this influence could become a tool of pressure that might paralyze the European economy. The dominance of these two firms raises questions about financial sovereignty and market competition in Europe.

Bankers and politicians have been vocal in their calls for urgent alternatives to be developed in Europe to ensure the continent's financial independence. The fear is that excessive reliance on these American firms not only undermines European financial institutions but also renders the EU vulnerable to external economic pressures. A shift towards creating European-based payment solutions is seen as vital to maintaining financial sovereignty.

The implications of these warnings extend beyond just market competition; they touch upon broader issues of economic autonomy and security within Europe. Without a robust alternative to the established giants, European countries may find themselves at the mercy of U.S. companies, which could have far-reaching consequences for economic stability and consumer choice on the continent.