Could Visa and Mastercard Face a Major European Competitor?

Wero and the emerging European Network for Payments (ENP) are positioning themselves as a significant alternative to the dominant US payment networks. Here’s how a truly European payment infrastructure is taking shape.

A European Network Takes Shape

On September 30, 2026, five major payment players announced the creation of the European Network for Payments (ENP). This new structure aims to interconnect their respective solutions to facilitate seamless cross-border payments.

The partners include:

• Bancomat (Italy)
• Bizum (Spain)
• Wero (France, Germany, Belgium)
• MB WAY (Portugal)
• Vipps MobilePay (Nordic countries)

Together, these networks represent approximately 130 million users across 13 European countries. The core concept is straightforward: users should no longer be limited to their domestic payment network. In the long term, individuals will be able to make purchases or transfer money abroad using a solution compatible with their counterpart’s system.

Currently, card payments in Europe rely heavily on Visa and Mastercard. The European Union is actively seeking to develop infrastructure capable of operating at a continental scale to reduce this dependency.

Wero: From Peer-to-Peer to Everyday Commerce

Wero, launched by the European Payments Initiative (EPI) in 2024, is not new. Initially designed for peer-to-peer money transfers, the service is available in France, Germany, and Belgium. It is now expanding its scope to include online commerce and in-store payments.

A significant milestone was reached on April 20, 2026, when the BPCE group announced the first e-commerce transactions using Wero for customers of Banque Populaire and Caisse d’Épargne. This marks a pivotal evolution: Wero is no longer just a tool for transfers between friends and family but is establishing itself as a viable option for daily shopping.

The European network plans to connect these national solutions in phases. The initial steps focus on peer-to-peer transfers. Interoperability for online and in-store purchases is expected to follow, with developments announced to begin in 2027.

Visa and Mastercard Are Not Yet Dethroned

While the European project is advancing, the balance of power still heavily favors the American networks. Visa and Mastercard benefit from:

• Global international presence
• Extensive partnerships with merchants worldwide
• A wide array of value-added services linked to bank cards

Wero operates on a different model, primarily relying on payments directly linked to bank accounts rather than a card-based ecosystem.

For Wero and the ENP to succeed, they must:

1. Convince consumers to change their established payment habits.
2. Gain merchant trust and significantly increase the number of acceptance points.
3. Achieve full interoperability between European solutions.

This transition will require time, but the foundation for a competitive, pan-European payment system is now firmly in place.