started · updated
European Network for Payments launched to challenge Visa and Mastercard
Five major European payment providers—Bancomat, Bizum, EPI Company (Wero), SIBS-MB WAY, and Vipps MobilePay—have officially formed the European Network for Payments (ENP). Headquartered in Madrid, the new entity aims to create a unified interoperability hub that connects existing national payment systems through a shared technical layer based on European standards.
The initiative serves as a strategic effort to reduce Europe's reliance on American payment giants Visa and Mastercard, which currently process nearly two-thirds of card transactions in the EU. This move is driven by concerns regarding financial sovereignty and the potential for the US administration to restrict access to American payment infrastructure.
The ENP will not launch a new consumer app but will instead allow users to continue using their familiar national applications. The network will facilitate instant account-to-account transfers. The rollout is planned to begin in 2027, starting with peer-to-peer cross-border payments, followed by e-commerce and eventually point-of-sale transactions.
Entities
EPI Company · European Network for Payments · European Payments Initiative · Madrid · Mastercard · Visa
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 6 SOURCES] The founding members serve approximately 130 million users across 13 European countries. glas-slavonije.hr · www.poslovni.hr · mondo.rs · www.novinky.cz · www.challenges.tn · +1 more
- [● 4 SOURCES] The network will connect existing payment systems through a common technical and operational layer based on European standards. glas-slavonije.hr · www.poslovni.hr · mondo.rs · www.novinky.cz
- [● 4 SOURCES] European payment groups have formed a joint company to manage cross-border payments. glas-slavonije.hr · www.poslovni.hr · mondo.rs · www.novinky.cz
- [● 4 SOURCES] The European Network for Payments (ENP) will be headquartered in Madrid. glas-slavonije.hr · www.poslovni.hr · mondo.rs · www.novinky.cz
- [● 4 SOURCES] The ENP is intended to serve as a European alternative to Visa and Mastercard starting in 2027. glas-slavonije.hr · www.poslovni.hr · mondo.rs · www.novinky.cz
- [● 5 SOURCES] The initiative aims to reduce dependence on US payment infrastructure due to concerns regarding potential access restrictions by the Trump administration. glas-slavonije.hr · www.poslovni.hr · mondo.rs · www.novinky.cz · www.challenges.tn
- [● 3 SOURCES] The rollout will begin with peer-to-peer cross-border payments, followed by e-commerce and point-of-sale transactions. www.challenges.tn · onlinemarktplatz.de · www.novinky.cz