Goodbye Visa and Mastercard: 130M Europeans switching to sovereign payment
9 hours ago
- #European Payment Sovereignty
- #Mobile Payment Alliance
- #Financial Independence
- Europe launches sovereign payment alliance to rival Visa and Mastercard.
- Five mobile payment giants (Bizum, Bancomat, MB WAY, Vipps MobilePay, Wero) unite.
- 130 million active users across 13 countries will transition starting 2026.
- A central interoperability hub will enable cross-border payments without user changes.
- Peer-to-peer transfers roll out in 2026, followed by online and in-store payments in 2027.
- The alliance aims to cover 72% of the EU and Norway's population.
- EuroPA alliance prototype already processed €6 million without promotion.
- Goal is data sovereignty, avoiding US servers for transactions.