Five European Payment Providers Launch Shared Entity for Cross-Border Payments

Five major European payment providers have taken their partnership to the next level by creating a formal organisation to coordinate cross-border transactions. Nordic mobile wallet operator Vipps MobilePay announced it is forming the European Network for Payments (ENP) with Italy's Bancomat, Spain's Bizum, pan-European initiative EPI/Wero, and Portugal's SIBS MB WAY.

The alliance brings together services that collectively reach approximately 130 million customers across 13 European markets. These providers had previously signalled their intention to collaborate on simplifying payments across national borders within the region.

ENP will function as a joint entity responsible for building and maintaining technical interoperability among the participating payment systems. The organisation will create a unified technical and operational foundation using European standards to connect existing instant account-to-account payment services.

The new entity's remit extends beyond initial setup. It will handle ongoing technical coordination while working to broaden both the network's functionality and its membership base over time. The goal is to let people use their current payment applications when making purchases or transfers in other participating countries.

The network plans a staged deployment beginning with person-to-person cross-border payments. E-commerce and physical point-of-sale transactions will follow in subsequent phases.

Each participating service will maintain its existing brand identity and user interface as the interoperability features are introduced. Additional European payment solutions may join the network later, provided they meet the necessary technical and operational standards and receive approval from existing members.

Kim Fuglsang Kristoffersen, who leads strategic partnerships at Vipps MobilePay, emphasised the urgency of developing robust European-owned payment infrastructure.

Europe needs to move fast in building strong, independent European payment solutions. At Vipps MobilePay, we are therefore proud to join forces with leading payment solutions across Europe that are already strong in their home markets.

Now we are connecting what we have built, turning ambition into action and creating a strong European alternative that is easy for Europeans to use across borders.

The organisation will operate from headquarters in Madrid, with equal ownership stakes distributed among the five founding partners.