CREDIT CARD STRIKE IN FRANCE!

Le Figaro published today an article on the so-called “credit card strike” and quoted me to shed light on the debate.

➡️ My opinion: this kind of action would have only a marginal impact on banks’ revenues, far from the billions announced — and it would even be anti-patriotic in the country that invented the bank card!

👉 Three key points:

1️⃣ Average card commissions in France are around 0.5%, which represents €2 to €4 billion annually — no more.

2️⃣ Card payments dominate in number of transactions, but not in value: wire transfers account for 89% of exchanged amounts.

3️⃣ Cash is also expensive: logistics, security, collection… Card payments are often less costly for the economy than cash.

ℹ️ Moreover, cash payments are highly controlled: withdrawal limits, source of funds checks on deposits, and ceilings on cash payments. They are barely anonymous. Even #cryptopayments in #Bitcoin are not truly anonymous, but rather pseudonymous.

🔗 Full article here: https://www.lefigaro.fr/conso/mouvement-du-10-septembre-une-greve-de-la-carte-bancaire-mettrait-elle-vraiment-les-banques-en-difficulte-20250829

Copy of the article attached.

Copy of the press article

Mouvement du 10 septembre _ une «grève de la carte bancaire» mettrait-elle vraiment les ba.

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