More than 30 of the largest European banks and credit card processing companies are trying to create a payment giant that can destroy the "oligopoly" dominated by the US.
The Brussels-based facility, which currently employs 40 payment experts, is due by September to develop a pan-European payment service plan that can pay online in stores, settle bills between individual consumers, and withdraw funds. cash at ATMs.
The banks and acquirers behind the initiative include Deutsche Bank, BNP Paribas, ING, UniCredit, and Santander, and they currently process more than half of all payments in Europe. The project enjoys the support of the European Commission, as well as the financial regulators of
the euro area. EPI has received over € 30 million from sponsors.
The first real applications — a real-time electronic payment system between consumers - could be launched in early 2022, and a broader payment instrument could appear in the second half of next year.
But, recall that previous pan-European attempts to challenge superiority of US in payments failed miserably. The Monnet Project, which was supported by 24 European lenders in 2011, failed due to a lack of political support and an inability to develop a viable biz model.

Titan.

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More from @RealOlaudah

5 May
Audrey Marie Hilley always pushed her luck.
First, she murdered her husband and almost got away with it until she tried to kill her daughter. Then, she skipped out on bail and avoided capture for years, but she ultimately got busted when she faked her own death.
By the time she escaped prison in 1987, her luck ran out altogether.
Known as Marie by her friends, she was born Audrey Marie Frazier in 1933, grew up in Anniston, Alabama. She married her HS sweetheart, Frank Hilley, in 1951 and gave birth to their son, Michael, a year later.
Marie had an eye for the finer things in life, and she rubbed elbows with several prominent families in Anniston, climbing up the small southern town’s social ladder.
“She was a lady that liked to spend a lot of money.
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26 Apr
I have been asked many times what I think of Africans, here is what I think of Africans, without language and without taboos.
They sell everything to the highest bidder, even the land. Then they poison themselves with everything that is available.
Their pastors or so called men of God. They rob their congregations and become billionaires in their very poor nations. They made the churches to become family inheritance...the father, the mother, children and other business interests.
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25 Apr
In retrospect
THIS SEASON IN HISTORY
22ND APRIL, 1990
GIDEON ORKAR'S COUP SPEECH

Fellow Nigerian Citizens,
On behalf of the patriotic and well-meaning peoples of the Middle Belt and the southern parts of this country, I , Major Gideon Orkar, wish to happily...
inform you of the successful ousting of the dictatorial, corrupt, drug baronish, evil man, deceitful, homo-sexually-centered, prodigalistic, un-patriotic administration of General Ibrahim Badamosi Babangida.
We have equally commenced their trials for unabated corruption, mismanagement of national economy, the murders of Dele Giwa, Major-General Mamman Vasta, with other officers as there was no attempted coup but mere intentions that were yet to materialize and other human...
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24 Apr
Singapore’s former Prime minister Lee Kuan Yew, the father of the country’s economic miracle of the last 50 years, was a frequent visitor to Africa in the 1960s.
On one such trip in 1964, he visited 17 African capitals to acquaint himself with what the newly independent African countries were doing to lift themselves from economic backwardness, itself a legacy of European colonialism of the previous century.
From what he saw, Lee Kuan Yew was not best impressed. “I was not optimistic about Africa,” he confessed later. So, what informed his thinking? He explains in his fat book, published in 2000, From Third World to First – The Singapore Story: 1965-2000, that certain things were...
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23 Apr
Here is an official photograph of the first 30 Nigerian officers in Nigeria's military.

Date: June, 1959

Left to right sitting: Captain Robert Adeyinka Adebayo, Captain Philip Effiong, Captain Umeh Ogere Imo, Major Samuel Adesoji Ademulegun, Major Wellington Bassey,...
Major General Norman Forster (GOC, Nigerian Army), Major Aguiyi Ironsi, Major Ralph Adetunji Shodeinde, Captain Zakaria Maimalari, Captain Conrad Nwawo, Captain David Akpode Ejoor.
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22 Apr
Mobutu Sese Seko, also called Mobutu Sese Seko Koko Ngbendu Wa Za Banga, original name Joseph (Désiré) Mobutu, (born October 14, 1930, Lisala, Belgian Congo [now Democratic Republic of the Congo]—died September 7, 1997, Rabat, Morocco), president of Zaire...
(now the Democratic Republic of the Congo) who seized power in a 1965 coup and ruled for some 32 years before being ousted in a rebellion in 1997.
Mobutu was educated in missionary schools and began his career in 1949 in the Belgian Congolese army, the Force Publique, rising from a clerk to a sergeant major, the highest rank then open to Africans.
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