Europe Moves to Reduce Dependence on US Payment Networks

Madrid, Spain – In a significant step toward financial sovereignty, Europe is taking decisive action to reduce its reliance on American payment networks. On September 30, 2026, five major industry players established a joint entity known as the European Network for Payments (ENP). This new structure aims to interconnect their respective payment solutions, collectively representing approximately 130 million users across 13 European countries.

A Unified European Payment Infrastructure

The initiative brings together five distinct payment networks:

Wero, backed by the European Payments Initiative (EPI)
Bizum (Spain)
Bancomat (Italy)
MB WAY (Portugal)
Vipps MobilePay (Nordic countries)

The primary ambition is to enable users to conduct transactions beyond their national borders without needing to switch applications or adopt new services. Headquartered in Madrid, the ENP will manage the common technical infrastructure, with the five partners holding equal shares.

The system will rely heavily on instant account-to-account payments in accordance with European standards. Crucially, each solution will retain its own brand identity and user interface, ensuring a familiar experience for consumers while enabling seamless cross-border interoperability.

Phased Rollout and Proven Feasibility

The deployment of the ENP will be gradual:

Phase 1: Cross-border peer-to-peer (P2P) money transfers.
Phase 2 (Expected 2027): Online and in-store payments.

The technical feasibility of this vision was already demonstrated in April 2026, when Bancomat, EPI, and MB WAY conducted a proof of concept showing that cross-border in-store payments could be executed using QR codes.

Strategic Importance: Reducing US Dominance

This move goes beyond simple user convenience; it represents a strategic effort for Europe to regain control over critical economic infrastructure. Data from the European Central Bank (ECB) highlights the extent of current dependence:

International networks accounted for approximately 61% of card payments in the Eurozone in 2022.
13 Eurozone countries relied entirely on these international networks for card transactions.

Opportunities for Businesses

For enterprises, the emergence of an interoperable European infrastructure opens new avenues:

Simplified International Payments: Easier processing of payments from foreign customers in both e-commerce and physical retail environments.
Increased Choice: Merchants will have more options for payment acceptance solutions.
Diversification: A reduced reliance on a single set of global infrastructure providers for transaction processing.

The Road Ahead

While the 130 million users provide a substantial starting base, the market is not yet fully connected. The success of the ENP will hinge on several factors:

The efficiency of its technical deployment.
Adoption rates among merchants.
Its ability to scale effectively.

The goal is not to immediately displace giants like Visa and Mastercard, but to build a credible European alternative in a sector where technological independence has become a major economic imperative.