Bancomat, Bizum, EPI, SIBS, and Vipps MobilePay have signed a MoU to accelerate the rollout of sovereign, pan-european payment solutions.
Following this announcement, the cooperation is expected to bring together optimised and secure European payment solutions, with the shared ambition of enabling cross-border payments across the region of Europe by 2027.
This MoU also represents an important initiative for Europe’s strategic autonomy in payments. At a time when Europe remains highly dependent on non-European players, this strategy aims to demonstrate that European banks and payment service providers have both the infrastructure and the scale needed to deliver a concrete alternative rapidly. Furthermore, the cooperation builds on the success of already existing solutions, while also connecting them through the use of a central hub that aims to create a pan-European experience for cross-border payments.
Ensuring a sovereign European payment solution, driving development, convenience, and efficiency for both consumers and merchants
According to the official press release, the cooperation is set to combine multiple solutions, aiming to further develop immediate value for both consumers and merchants that are operating across borders. At launch, the initiative is expected to span 13 European countries, collectively already covering approximately 72% of the European Union and Norway population. At the same time, the coalition is currently open to all European countries, including Switzerland and other non-EUR markets. Those are represented by the ones that have already developed a domestic solution (who may join directly), as well as those without a domestic solution wishing to join (who can implement one of the solutions already available within the initiative).
The signature of this MoU also confirms the positive completion of the feasibility phase, as the solutions are set to transition towards the implementation phase of the project. This initiative will also give European consumers the possibility to continue using their current preferred solution, now with a broader European reach, while also benefiting from a user experience consistent with what they are accustomed to at home. In addition, businesses and merchants will be allowed to accept payments from European consumers through the process of leveraging a European service, which aims to focus on reducing dependency on international players. The solution is expected to develop a new branding badge next to their existing brands, while also enabling consumers to recognise where their preferred solutions will be accepted beyond current markets.
The cooperation is currently based on a central interoperability hub, which is operated by a future central entity jointly established by the partners. Moreover, the central hub is expected to act as a technical layer, while also enabling transactions to flow securely and efficiently between existing pan-european and national solutions, based on European standards, regulations, and infrastructures, including instant account-to-account payments. The existing payment solutions are set to remain unchanged, preserving their brands, user experience, and suite of benefits and features.
Further development of the initiative
Following the MoU, the partners are expected to establish the central interoperability entity by H1 2026, as all of the companies will start preparing the technical implementation of the target set-up, and conduct proof‑of‑concepts (PoCs) in parallel. The coverage of all use cases is intended to be completed by 2027 through a phased rollout. It is also expected that in 2026 the rollout of peer-to-peer (P2P) cross-border payments to take place, as in 2027, the rollout of ecommerce and point-of-sale (POS) payments will represent a priority for the initiative.
