US EditionBancomat, Bizum, EPI, SIBS and Vipps MobilePay sign MoU to accelerate…
18 Articles
18 Articles
What would happen if the United States decided to cut the access of millions of Europeans to their Visa and MasterCard bank cards? While such a scenario is taken very seriously in Brussels, two of the main European payment groups have just joined forces to strengthen the sovereignty of the Old Continent in this area. Their objective? Propose a common payment solution that can serve as an alternative to those proposed by the American giants.
The solution will cover 13 countries and 130 million users and will be based on instant transfers. The ECB's alarm on non-EU systems and the role of the digital euro
As of this year, European citizens will be able to switch money between themselves with their smartphone. Set up by the two main European payment groups, this innovation will involve up to 130 million users. The deployment is to be made this year for individuals, next year for traders. - Instant transfers are soon possible between European citizens (Economy).
The new payment provider wants to work with counterparts in Southern Europe and Scandinavia in the future. The banks behind it see the digital euro as a rival – which they strongly criticise.
Bizum has reached an agreement with several European instant payment companies to partner and allow all their systems to be compatible with each other and users to make cross-border personal payments. Technical work will begin in the coming months with the aim that as early as 2026 cross-border personal payments will be released. For next year the possibility of paying in electronic shops and sales points will be launched.
Daniel van Delft | Director of Wero Netherlands: iDeal successor Wero already wanted to become a serious European competitor to the dominant American…
Coverage Details
Bias Distribution
- 57% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
