Payments Providers Ink MoU to Drive ‘Sovereign’ Pan-European Payments

Europe’s payments landscape has taken a significant step toward financial sovereignty with the signing of a Memorandum of Understanding (MoU) by several leading homegrown payment providers, marking a new phase in the development of a sovereign, pan-European payments network.

The agreement — inked by Bancomat (Italy), Bizum (Spain), SIBS-MB WAY (Portugal), Vipps MobilePay (Nordics) and the European Payments Initiative (EPI) — aims to enable seamless cross-border payments across Europe by 2027, gradually reducing dependency on non-European payment networks and strengthening the EU’s strategic autonomy in financial infrastructure.

This industry-led collaboration builds on existing initiatives that connect national payment solutions and will now move from feasibility into implementation phase, bringing together multiple payment systems under a shared interoperability framework.

A Milestone for European Payment Sovereignty

The MoU represents a decisive step toward a more unified European payments ecosystem — one that supports seamless transactions across borders, preserves existing national brands and improves customer experiences while fostering competition and innovation.

Key elements of the project include:

• Central interoperability hub: A technical layer that will connect existing solutions so that users can make cross-border transfers easily, while keeping the user experience of their native apps unchanged.
• Coverage across markets: At launch, the collaboration is expected to cover approximately 13 European countries, spanning around 72% of the EU population plus Norway, with the coalition remaining open to additional European markets.
• User continuity: Consumers can continue using their preferred payment apps — such as Bizum or Bancomat — that will now work seamlessly beyond their national borders.

The initiative collectively taps into existing solutions that already serve an estimated 130 million users, providing immediate scale and leveraging the strength of homegrown digital payment systems.

Why It Matters

Until now, European consumers and merchants have primarily relied on global card networks and Big Tech wallets for cross-border payments — often at higher costs and under non-European infrastructure. The new cooperation aims to change that by harnessing European standards and technologies, including instant account-to-account payments, to create a locally rooted alternative that’s competitive and secure.

For merchants, this means broader acceptance of European payment methods across borders without needing multiple integrations. For consumers, it promises easier, cheaper and more familiar payment experiences when sending money or paying for goods throughout much of Europe.

Roadmap and Next Steps

With the MoU signed, the partners will now:

• Establish a central interoperability entity by the first half of 2026, entrusted with operating the shared infrastructure.
• Prepare technical implementation and proof-of-concept trials to validate interoperability between systems.
• Roll out cross-border peer-to-peer payments in 2026, followed by e-commerce and point-of-sale capabilities in 2027.

This phased approach will help ensure that solutions evolve progressively without disrupting existing user experiences.

Voices from the Initiative

“This MoU is a major step toward a truly pan-European payments network,” said Fabrizio Burlando, CEO of Bancomat, highlighting the momentum and collaborative spirit behind the initiative.

Representatives from partner organisations — including Bizum, EPI and Vipps MobilePay — echoed similar sentiments, emphasising Europe’s readiness to reclaim leadership in digital payments through cooperative action that strengthens domestic infrastructures and serves regional economic interests.

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