alt Hacker NewsIn many countries, at least some banks are nationalized. India’s biggest bank SBI (State Bank of India) is a PSU (Public Sector Undertaking).
UPI still connects with bank accounts.
My question was about something else: why EU doesn’t try and develop a homegrown card provider? It would provide exactly what MC/Visa does. Are we beyond that point in terms of technological advancement? Some other reason?
> why EU doesn’t try and develop a homegrown card provider? It would provide exactly what MC/Visa does
They have. A combination of petty squabbling and the lack of any real value proposition has always killed it. To have any chance of succeeding in the EU a new system needs to be something that no-one currently provides, because consumers are unlikely to adopt something that isn't clearly better than what they currently have, but more importantly no EU country is going to adopt a different EU country's system.