UK bank bosses plan to set up a Visa and Mastercard alternative amid Trump fears.
16 February 2026
The City-funded, but government-backed, initiative has been under discussion for years.
However, Trump’s recent threats against Nato allies over Greenland have amplified concerns that an over-reliance on US companies could put UK payments – and the wider economy – at risk.
However, Trump’s recent threats against Nato allies over Greenland have amplified concerns that an over-reliance on US companies could put UK payments – and the wider economy – at risk.