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Europe’s $24 Trillion Breakup With Visa and Mastercard Has Begun (europeanbusinessmagazine.com)

submitted 1 month ago by Sine_Fine_Belli@lemmy.world to c/progressivepolitics@lemmy.world

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cross-posted from: https://lemmus.org/post/20084502

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[–] huppakee@piefed.social 4 points 1 month ago

But the real breakthrough came on 2 February, when EPI signed a memorandum of understanding with the EuroPA Alliance — a coalition of national payment systems including Italy’s Bancomat, Spain’s Bizum, Portugal’s MB WAY and the Nordics’ Vipps MobilePay. The deal instantly connects approximately 130 million users across 13 countries, covering roughly 72% of the EU and Norway population. Cross-border peer-to-peer payments launch this year, with e-commerce and point-of-sale payments following in 2027.

“European payment sovereignty is not a vision, but a reality in the making,” said Martina Weimert, CEO of EPI.