The European Payments Initiative (EPI) is pushing for alternatives to Visa and Mastercard, which handle nearly two-thirds of Eurozone card transactions. EPI's CEO Martina Weimert warns that Europe's heavy reliance on American payment companies poses strategic risks, especially as cash usage declines. The EPI launched Wero in 2024 as an alternative to Apple Pay, currently serving 48.5 million users in Belgium, France, and Germany, with plans to expand to online and in-store payments by 2027.
https://www.pymnts.com/news/international/europe/2026/eu-banking-chief-calls-for-visa-and-mastercard-alternatives/
