I recently wrote about Italy’s approach to cash acceptance at retailers. Like many observers, I suspect that the merchants dislike of card payments has as much to do with tax avoidance as it does with merchant service charges. Nevertheless, Italian merchants have a point. They need an alternative. But what should that alternative be?
Risk expert Wolfgang Piccoli was quoted in that context saying that “Europe is well aware that Amex, Mastercard and Visa are all American. It doesn’t have a credit card company and that’s a problem”.
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