Mmastodon BusinessBanking first seen 12 h ago, last 1 h ago, peak #9

European payment firms unite to challenge US rivals

Original: 💶 European payments groups join forces in challenge to US ｢ ENP's founders are Bancomat, Bizum, EPI Company/Wero, SIBS-M

Major European mobile payment providers have joined forces under the European Payments Initiative to compete with US-dominated card networks. The founding members include Bancomat, Bizum, EPI Company/Wero, SIBS MB WAY and Vipps MobilePay, which together serve around 130 million users across 13 European countries, covering more than 70% of the EU population. The move is part of a broader push for European payment sovereignty and reduced reliance on American schemes like Visa and Mastercard.

Why now: Ongoing concerns in Europe about payment sovereignty and dependence on US financial networks are driving interest in the alliance.

European Payments InitiativeBancomatBizumVipps MobilePayWero

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• 💶 European payments groups join forces in challenge to US ｢ ENP's founders are Bancomat, Bizum, EPI Company/Wero, SIBS-MB WAY and Vipps MobilePay, which together serve around 130 million users across 13 European countries, covering more than 70% of the population of the EU and… · jbz@indieweb.social · 3

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