An Alliance for Cross-Border Payments
The EuroPA alliance has joined forces with the European Payments Initiative (EPI) to explore possibilities for connecting consumers and merchants across 15 European countries. The goal is to support a wide range of payment methods, from person-to-person (P2P) payments to business transactions.
This initiative aims to allow users to utilize their preferred digital payment solutions both locally and throughout Europe. Additionally, provisions will be made for countries that do not yet have established systems in place.
An Interoperable Mobile Platform
The EuroPA alliance encompasses mobile payment players from across Europe, including Bancomat, Bizum, Blik, MB WAY (SIBS), and Vipps MobilePay. Their objective is to establish an interoperable mobile platform based on the Single Euro Payments Area (SEPA) real-time payments protocol. SEPA support was mandated in the region at the start of this year.
A Wallet for Cross-Border Transactions
EPI, a consortium comprising 16 European financial services companies, initially focused on the Wero digital wallet—a product designed to serve as a unified mobile payment solution for retail transactions. Wero launched last year in Germany before expanding to Belgium and France.
One of its initial use cases involved enabling users to complete P2P transactions quickly using QR codes, email addresses, or phone numbers. Cross-border and merchant payment functionality is under development for Wero, with EPI planning to transform the wallet into a comprehensive platform supporting recurring payments and buy now, pay later options.
A Solution Tailored to Europe
The combination of EPI’s digital wallet with the mobile platforms of EuroPA’s members aligns with both organizations’ objectives—to enhance Europe’s sovereignty in payments by building a superior cross-border solution. Concerns about the dominance of Visa and Mastercard have grown, especially as USD-backed stablecoins gain traction in the region.
This reliance on U.S.-based companies and dollars has faced criticism in Europe, prompting calls for a more Eurocentric solution. The European Commission and the Eurosystem have highlighted that one of the quickest ways to strengthen the payments system is by connecting existing payment solutions interdependently.
