UK bank bosses plan to set up VISA abd Mastercard alternative amid Trump fears

UK bank bosses will hold their first meeting to establish a national alternative to VISA and Mastercard,amid growing fears over Donald Trump's ability to turn off US-owned payment system.

alternative n.替代品；替代方案 amid prep.在……之中

The meeting, chaired by Barclays'UK chief executive,Vim Maru,will take place in this Thursday and bring together a group of City funders that will front the costs of a new paymen company to keep the UK economy running if problems were to occur.

chair v.主持；担任n.椅子；主席；委员长 chief adj.首席的；首要的n.首脑；主席 executive n.高管；经理；执行官adj. City funder n.城市资助者

front v.预付；垫付；承担前期成本

The City-funded, but government-backed, initiative has been under discussion for years. However, Trump’s recent threats against Nato allies over Greenland have amplified concerns that an over-reliance on US companies could put UK payments – and the wider economy – at risk.

initiative n.倡议；新方案；主动性；积极性 adj.起始的 amplify v.放大；增强 Nato n.北约 ally n.盟国 over-reliance 过度依赖

About 95% of UK card transactions are made using payment systems owned by Mastercard and Visa, according to a 2025 report by the UK’s Payment Systems Regulator. That dominance has become far more relevant as cash use across the country continues to decline.

transaction n.交易；事务；业务 regulator n.调节器；监管机构；稳压器

dominance n.支配地位；主导权；显性 relevant adj.相关的；有意义的；有价值的

far/more/a lot/even/still/significantly / substantially more 用来加深比较级 decline v.减少；下降；拒绝

“If Mastercard and Visa were turned off, it would send us back to the 1950s,” before cards dominated the UK economy, and businesses wholly relied on cash, one executive familiar with the project told the Guardian. “Of course, we need a sovereign payments system.”

dominate v.支配 executive n.高管；管理人员；经理 adj.实施的；经营的；高级的；决策的；经理的

familiar adj.熟悉的 sovereign adj.有主权的；完全独立的 n.君主

The potential disruption could be vast. In Russia, where businesses are reliant on Visa and Mastercard for 60% of payments, US sanctions that forced the companies to turn off their services left ordinary people stranded without access to funds and unable to buy goods.

potential n.潜力；潜质；电压；电势adj.潜在的；可能的 disruption n.中断；颠覆性创新；破坏；扰乱 vast adj.广阔的；广大的；海量的（数据）reliant adj.依赖的；信赖的 sanction n.制裁；处罚；(正式)许可，批准；约束 v.实施制裁

strand v.搁浅；被困 adj.孤立无援的n.(线、绳、金属线、毛发等的)股；(观点、计划、故事等的)部分；方面；岸

fund n.资金；数量v.资助；为…提供资金；拨款给