this post was submitted on 10 Feb 2026
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Europe’s $24 Trillion Breakup With Visa and Mastercard Has Begun (europeanbusinessmagazine.com)
submitted 23 hours ago by Beep@lemmus.org to c/technology@lemmy.world
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[–] cman6@lemmy.world 8 points 8 hours ago

In the UK the credit card company are joint liable for any purchases over £100.

So if I buy X from company Y for £100, and company Y fails to deliver, or goes into administration, or whatever, I go back to the credit card company and get my £100 back. Or looked at another way, I don't pay them the £100 and they swallow the cost.