European payment platforms unite

The European Union is forming a coalition of major payment platforms to reduce reliance on American companies. Five European leaders—Wero (France), Bizum (Spain), Bancomat (Italy), MB WAY (Portugal), and Vipps MobilePay (Nordic countries)—have joined forces, bringing together 130 million users under a shared initiative.

Sovereign payment infrastructure goal

The coalition aims to create a fully sovereign payment system that would handle billions of transactions within Europe. This marks a major shift in the European banking sector, as it seeks to control its financial data and reduce dependence on foreign platforms.

Interoperability as key to success

The project focuses on interoperability, allowing different payment systems to work together seamlessly. A central hub will be established by mid-2026 to manage this integration, ensuring users can transfer money across platforms without changing their habits.

Gradual rollout of services

The initiative will start with peer-to-peer transfers in 13 countries by 2026, from Andorra to Sweden. Online and in-store payments are expected to follow in 2027, eventually covering 72 percent of the European Union and Norway’s population.

Early success with EuroPA alliance

The EuroPA alliance, launched in March 2025, has already connected Spain, Portugal, Italy, and Andorra. In its first year, six million euros were processed without any promotional efforts, signaling confidence in the broader goal of European payment autonomy.