In addition, well established Caribbean jurisdictions like The Bahamas and Barbados now boast a strong infrastructure of professional and technical skills, in law, accounting, finance and related disciplines, and can provide those services to international financial institutions at highly competitive prices.
This has made Europe overly dependent on a few foreign providers for card and online payments, resulting in a high degree of market concentration.4  European To increase choice, resilience and competitiveness, the European payments ecosystem must proactively stimulate competition, including by developing innovative, Europe-grown payment solutions and technologies.