What are current initiatives for an additional card scheme and what are the benefits? Let me mention several card scheme initiatives which have the potential to make competition in the European cards market livelier. EAPS follows an interlinking model of national card schemes and a number of countries and a large number of (savings) banks are participating.
4. Business continuity with systemic foreign providers The failure of a Fintech or Bigtech firm with systemic financial services operations, or the interruption in the service it provides, could have substantial spill-overs for both the domestic economy it serves and other economies in the region.