Full Breakdown
European Payment Groups Launch Cross-Border Network
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New European Network for Payments Unveiled
On September 30, payment schemes that serve roughly 130 million users across 13 European countries announced the formation of a joint venture, the European Network for Payments (ENP). Based in Madrid, ENP will link existing national systems through a common technical and operational layer built on European standards and instant account-to-account transfers. The rollout will begin with cross-border person-to-person payments, later expanding to e-commerce and point-of-sale transactions.
Background and Context
Policymakers have highlighted payment-system sovereignty as a priority amid concerns that a fragmented global order could jeopardise access to critical infrastructure. The European Central Bank has outlined plans for a digital euro by 2029, a development that could complement ENP’s infrastructure. Fragmentation has long been cited as the “biggest hurdle” for pan-European schemes.
Participants and Structure
Founding members include Spain’s Bizum, Italy’s Bancomat, the Brussels-based Wero, EPI Company/Wero, SIBS-MB WAY, and Vipps MobilePay. Collectively, they cover more than 70 % of the EU and Norway’s population. Shareholders will absorb operating costs during the early years while the network builds scale to generate its own fee revenue. Additional European payment schemes may join the venture in the future.
Official Statements & Responses
Martina Weimert, CEO of the European Payments Initiative, described fragmentation as the sector’s biggest obstacle and emphasized the need for a unified approach. Fernando Rodriguez, deputy general manager for international expansion at Bizum, confirmed that ENP has already appointed a new chief executive and is recruiting staff. He noted that early-stage operating costs will be shouldered by the founding shareholders until the network achieves sufficient scale.
Verbatim Quotes
- “The creation of the European Network for Payments reflects a growing focus on connecting the payment systems Europeans already use, rather than replacing them,” — Marcel Hörauf
*The creation of the European Network for Payments reflects a growing focus on connecting the payment systems Europeans already use, rather than replacing them,* — Marcel Hörauf, partner at Mayer Brown.