started · updated
European Network for Payments founded to rival Visa and Mastercard
Five major European payment networks have established the European Network for Payments (ENP), headquartered in Madrid, to create a unified infrastructure that reduces reliance on US-based providers such as Visa, Mastercard, and PayPal.
The founding members include Bizum (Spain), Epi/Wero (France/Germany), Sibs (Portugal), Vipps (Scandinavia), and Bancomat (Italy). The initiative aims to connect existing systems across 13 countries, potentially reaching 130 million users, which represents approximately 70% of the population in the EU and Norway.
The ENP will initially focus on facilitating cross-border peer-to-peer (P2P) transfers. The roadmap includes expanding interoperability to include in-store and online shopping by the end of 2027. Additionally, the project is exploring the development of a virtual card application to compete with major tech-driven payment services like Apple Pay, Google Pay, and Samsung Pay.
Entities
Bancomat · Bizum · Epi/Wero · European Network for Payments · SIBS · Vipps · Wero
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 12 SOURCES] The ENP will be headquartered in Madrid. www.fehmarn24.de · www.kreiszeitung.de · www.op-online.de · www.kurierverlag.de · www.donanimhaber.com · +3 more
- [● 12 SOURCES] Interoperability for in-store and online shopping is targeted for completion by the end of 2027. www.fehmarn24.de · www.kreiszeitung.de · www.op-online.de · www.kurierverlag.de · www.donanimhaber.com · +3 more
- [● 12 SOURCES] The goal is to allow seamless use of different payment instruments across Europe, similar to mobile roaming. www.fehmarn24.de · www.kreiszeitung.de · www.op-online.de · www.kurierverlag.de · www.donanimhaber.com · +3 more
- [● 12 SOURCES] The network is being developed as an alternative to US-based providers like Visa, Mastercard, and PayPal. www.fehmarn24.de · www.kreiszeitung.de · www.op-online.de · www.kurierverlag.de · www.donanimhaber.com · +3 more
- [● 12 SOURCES] Five European payment networks have founded the European Network for Payments (ENP). www.fehmarn24.de · www.kreiszeitung.de · www.op-online.de · www.kurierverlag.de · www.donanimhaber.com · +3 more
- [● 12 SOURCES] The ENP is owned equally by Bizum, Epi/Wero, Sibs, Vipps, and Bancomat. www.fehmarn24.de · www.kreiszeitung.de · www.op-online.de · www.kurierverlag.de · www.donanimhaber.com · +3 more
- [● 12 SOURCES] The project includes testing a virtual card app to compete with Apple Pay, Google Pay, and Samsung Pay. www.fehmarn24.de · www.kreiszeitung.de · www.op-online.de · www.kurierverlag.de · www.donanimhaber.com · +3 more
- [● 12 SOURCES] Initial services will focus on peer-to-peer payments. www.fehmarn24.de · www.kreiszeitung.de · www.op-online.de · www.kurierverlag.de · www.donanimhaber.com · +3 more