🏛️💶 European payment networks sign MoU for cross-border payments

Oneliner

On February 3, 2026, major European payment networks signed a memorandum of understanding to enable seamless cross-border payments by 2027. This initiative aims to reduce reliance on Visa and MasterCard, enhancing payment sovereignty across Europe. The agreement covers 13 countries, representing 72% of the EU and Norway's population. A central interoperability hub will be established to facilitate the new payment system, allowing consumers and merchants to benefit from a unified payment solution.

Key points

• Major European payment networks aim for seamless cross-border transactions by 2027.
• The initiative seeks to reduce reliance on Visa and MasterCard, enhancing payment sovereignty.
• The agreement covers 13 countries, representing 72% of the EU and Norway's population.
• A central interoperability hub will be established to facilitate the new payment system.

Links

• RFI: L'Europe étudie une alternative à Visa et MasterCard pour réduire sa dépendance aux États-Unis
• La Stampa: Bancomat, accordo con i circuiti europei "per la sovranità dei pagamenti"
• Público: Uma questão de "soberania": BCE defende euro digital, privados preparam MB Way europeu

Facts

• The MoU was signed on February 3, 2026.
• The initiative aims for implementation by 2027.
• It covers 13 European countries, representing 72% of the EU and Norway's population.
• The central interoperability hub will be established by the first half of 2026.

Quotes

• This memorandum of understanding is an important step towards a truly pan-European payments network — Fabrizio Burlando, CEO of Bancomat

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