European digital payment providers face scrutiny over sovereignty and fees

In Germany, a survey by the digital association Bitkom reveals that 46% of consumers are concerned about the dominance of non-European providers in the digital payment sector. Approximately 53% of respondents expressed a desire for more European-based digital payment alternatives to strengthen digital sovereignty. Bitkom President Dr. Ralf Wintergerst noted that while there is potential for a 'Europe bonus,' European providers must compete at a top global level regarding functionality and performance to win users.

In Switzerland, the Swiss Retail Federation has filed a complaint with the Competition Commission (Weko) against the payment solution Twint. The federation alleges that Twint and its associated banks and acquirers are abusing their market position. An economic expert report commissioned by the federation claims that merchants pay nearly twice as much in fees for Twint transactions compared to debit cards. Twint has defended itself, calling the conclusions of the report 'completely false.'