European Banks May Introduce Regional Credit Cards, FTD Reports

European banks will make a decision later this year on whether to introduce a European credit card to challenge the payment networks of MasterCard Inc. (MA) and Visa Inc. (V), the Financial Times Deutschland reported, citing project officials.

About 24 banks from seven countries, including Germany, France, the U.K. and Spain, are involved in the plan, the newspaper said, citing Georges Pauget, the head of the project and former chief executive officer of Credit Agricole SA. (ACA)

To contact the reporter on this story: Niklas Magnusson in Hamburg at nmagnusson1@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net

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