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France’s CB seeks to lead European fightback against Visa and Mastercard

Payments scheme pushes for ‘co-badging’ that allows French bank cards to run on both international and local networks

French payments network CB is seeking to lead a fightback against US giants Visa and Mastercard, amid concerns by European officials that the groups’ dominance could be weaponised against the bloc.

The network’s head Philippe Laulanie said CB had started to reverse a years-long decline that had cut its share of payments in France from more than 90 per cent five years ago to 75 per cent, according to the company’s own figures.

Laulanie said CB, which operates on a “co-badging” system that allows French bank cards to run both on international and local networks, had about 30 candidates to join its network.

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