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European payments groups
Trends
- 1
European payments companies have formed a coalition aimed at reducing reliance on US-controlled payment networks such as Visa and Mastercard. The initiative seeks to build a stronger European alternative in the payments market, amid ongoing concerns in the EU about strategic dependence on American financial infrastructure and pressure to achieve greater digital sovereignty.
- 2European payment firms unite to challenge US rivals●💶 European payments groups join forces in challenge to US ｢ ENP's founders are Bancomat, Bizum, EPI Company/Wero, SIBS-M
European payment providers Bancomat, Bizum, EPI Company/Wero, SIBS MB WAY and Vipps MobilePay have joined forces to create ENP, a new alliance aimed at competing with dominant US payment networks. Together the founding members serve around 130 million users across 13 European countries, covering more than 70% of the EU population, in a bid to strengthen Europe's payment sovereignty.