Europe should reduce its reliance on US payment systems as the prospect of a Trump presidency increases risks around the critical infrastructure’s resilience, the chief executive of Stripe-backed UK tech group TrueLayer has warned.
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Stripe-backed fintech warns of Europe’s over-reliance on US payment systems
“Maybe [the US election] is an election that will take us a little bit into a different world,” said Simoneschi, who heads the London-based open banking company. The TrueLayer chief added that one risk would be a shift away from the “integration that has been happening between UK and Europe and the US” in the past 50 years.
