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3 clusters · 15 sources · 3 days · First seen 4 days ago · Last updated 2 days ago

European Network for Payments launched

Overview

The European Network for Payments (ENP) has officially launched. Headquartered in Madrid, the organization serves as an interoperability hub designed to connect various national payment systems through a common technical and operational layer based on European standards.

The launch is driven by a strategic goal to reduce Europe’s reliance on American financial infrastructure. This move follows concerns that the Trump administration could potentially restrict access to US-based payment systems. By facilitating faster and more affordable digital transactions, including instant account-to-account payments, the ENP aims to provide a domestic alternative to US giants Visa and Mastercard, which currently process nearly two-thirds of card transactions in Europe.

The network connects approximately 130 million users across 13 countries, covering over 70 percent of the population in the EU and Norway. Founding members include Italy’s Bancomat, Spain’s Bizum, Portugal’s SIBS-MB WAY, the Nordic platform Vipps MobilePay, and the European Payments Initiative (EPI) consortium, which includes major institutions such as BNP Paribas, Deutsche Bank, and Société Générale.

Rather than launching a new consumer application, the ENP will enable users to continue using their existing national apps. The rollout is scheduled to begin in 2027, initially focusing on peer-to-peer cross-border payments, followed by e-commerce and point-of-sale transactions.

Entities

European Network for Payments · Visa · Mastercard · EPI Company · Bancomat

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
[● 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
[● 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 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
[● 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

Timeline

2 days ago

[BUSINESS] 6 sources
European Network for Payments launched to challenge Visa and Mastercard
European payment providers have launched the European Network for Payments (ENP) in Madrid to create a cross-border interoperability hub, aiming to challenge Visa and Mastercard by 2027.
4 days ago

[BUSINESS] 5 sources
European payment providers launch interoperability network
European payment providers are launching the European Network for Payments to boost interoperability, while a Capgemini report reveals low B2B client satisfaction despite increased banking innovation.
4 days ago

[BUSINESS] 4 sources
European Network for Payments launched to connect 130 million users
Five major payment platforms, including Bizum and Bancomat, have launched the European Network for Payments (ENP) in Madrid to enable cross-border digital transactions for 130 million users.

Sources

agefi.fr · challenges.tn · finyear.com · frandroid.com · glas-slavonije.hr · lacronicabadajoz.com · levante-emv.com · mondo.rs · moneyvox.fr · novinky.cz · onlinemarktplatz.de · poslovni.hr · valor.globo.com · web.eldia.es · xatakamovil.com

This summary has been updated 3 times: see revision history