# European efforts to reduce payment provider dominance

> Live situation record from CLSTR: https://clstr.news/situations/european-efforts-to-reduce-payment-provider-dominance
> Updated: 2026-10-04T05:22:40.000Z. Sources: 22. Developments: 2.

Visa and Mastercard maintain a dominant position in the European payment landscape, with reported turnovers of 40 billion dollars and 32.8 billion dollars respectively in 2025. In response to this dominance, the European Payments Initiative (EPI) has been expanding its Wero service, moving from peer-to-peer payments into the merchant market for online sales with support from corporations like Decathlon and Air France KLM.

Efforts to establish economic sovereignty have intensified with the founding of the European Network for Payments (ENP). Headquartered in Madrid, the ENP is a joint venture owned by Bizum, Epi/Wero, Sibs, Vipps, and Bancomat. The network aims to reduce reliance on US-based providers like Visa, Mastercard, and PayPal by creating a unified infrastructure for approximately 130 million users across 13 countries. This user base represents roughly 70% of the population in the EU and Norway.

The ENP intends to provide cross-border interoperability similar to mobile data roaming. While the initial rollout focuses on peer-to-peer transfers, the group expects cross-border capabilities by 2026 and full interoperability for in-store and online shopping by the end of 2027. The initiative is also testing a virtual card application to compete with major tech platforms such as Apple Pay, Google Pay, and Samsung Pay.

## Claims

- The goal is to allow seamless use of different payment instruments across Europe, similar to mobile roaming. (corroborated by 12 sources)
- Five European payment networks have founded the European Network for Payments (ENP). (corroborated by 12 sources)
- The ENP is owned equally by Bizum, Epi/Wero, Sibs, Vipps, and Bancomat. (corroborated by 12 sources)
- The ENP will be headquartered in Madrid. (corroborated by 12 sources)
- Initial services will focus on peer-to-peer payments. (corroborated by 12 sources)
- Interoperability for in-store and online shopping is targeted for completion by the end of 2027. (corroborated by 12 sources)
- The network is being developed as an alternative to US-based providers like Visa, Mastercard, and PayPal. (corroborated by 12 sources)
- The project includes testing a virtual card app to compete with Apple Pay, Google Pay, and Samsung Pay. (corroborated by 12 sources)

## Timeline

### 2026-10-04: European Network for Payments founded to rival Visa and Mastercard

Five European payment networks have launched the Madrid-based European Network for Payments (ENP) to provide a unified alternative to US providers like Visa and Mastercard, targeting 130 million users.

19 sources. https://clstr.news/cluster/european-network-for-payments-founded-by-five-major-networks

### 2026-09-24: Visa and Mastercard maintain dominance over European payments

Visa and Mastercard maintain dominance over European payments with multi-billion dollar revenues, as the European Payments Initiative expands its Wero service to merchants.

3 sources. https://clstr.news/cluster/visa-and-mastercard-maintain-dominance-over-european-payments

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Cite as: European efforts to reduce payment provider dominance. CLSTR, https://clstr.news/situations/european-efforts-to-reduce-payment-provider-dominance