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EXCERPT:
BRUSSELS: The European Union (EU) believes a digital euro is the answer to cutting its addiction to United States payment systems like Visa and Mastercard, as well as Apple Pay and Google Pay, as the bloc seeks to favour European firms over others.
Brussels hopes it could provide an alternative local option for any payments in shops or online since people could easily pay, just like other systems, using a card, an app or via their banking app.
The EU will move one step closer on Tuesday (Jun 23) to creating a digital euro when EU lawmakers hold a long-awaited vote on the virtual currency.
