Britain plans alternative to U.S. credit cards

The heads of Britain’s largest banks are scheduled to hold their first meeting this week to establish a new payments company as an alternative to Mastercard and Visa. Currently, about 95 percent of credit card transactions in the United Kingdom use these two U.S.-based payments companies. Some warn that U.S. President Donald Trump could use this as leverage against Britain’s best interests. The move is a sign of Britain’s distrust both of the Trump administration and the U.S. economy.