France’s domestic payments network CB is pushing to regain its footing in the market and challenge the dominance of American payment giants Visa and Mastercard, amid growing concerns in Europe about reliance on U.S.-based financial infrastructure.

CB, which operates a co-badging system enabling French bank cards to function on both international and local networks, has seen a reversal in its market share decline following years of erosion. The network’s head, Philippe Laulanie, reported that CB’s share of card payments in France has rebounded to around 75%, up from less than 70% several years ago, after previously dropping from over 90% five years prior. Laulanie indicated that approximately 30 new members were in discussions to join the CB network.

The initiative to bolster CB’s position has gained renewed urgency in light of geopolitical tensions, including Russia’s invasion of Ukraine and deteriorating U.S.-Europe relations, which have raised fears of potential disruptions or restrictions on payment services controlled by American firms. Laulanie highlighted these concerns as part of a broader push for greater European payment sovereignty, noting that past political friction under former U.S. President Donald Trump amplified worries about access to critical financial infrastructure.

Founded in the 1980s with backing from major French banks, CB was initially designed as a non-profit consortium to reduce operational costs for its members. However, its market share suffered as global players like Visa and Mastercard offered exclusivity deals and incentives that encouraged banks and fintech companies to prioritize their networks. Some fintech providers, particularly digital banks, have been hesitant to adopt CB’s services, partly because the network was slow to embrace mobile payment technologies and only recently became compatible with smartphone wallets.

French President Emmanuel Macron has strongly advocated for supporting domestic payment solutions like CB, describing the network as a key component of France’s economic sovereignty. Macron has urged financial institutions across France and Europe to adopt a dual payment model that pairs the ubiquitous international schemes with regional alternatives like CB to reduce strategic dependencies.

Despite these efforts, CB’s revival faces challenges. Unlike France, many European countries have abandoned their own domestic payment networks, making their recovery efforts more difficult. Foreign players such as JPMorgan Chase have recently joined CB’s network, attracted in part by its competitive transaction fees that benefit local merchants, especially in sectors like hospitality.

While CB’s growth marks a significant step toward diversifying Europe’s payment infrastructure, the creation of a truly pan-European card scheme capable of rivaling Visa and Mastercard remains elusive. However, alternatives in the digital wallet space, such as the European-developed Wero system, are beginning to gain traction as part of a broader effort to strengthen regional autonomy in financial services.