Challenge for Visa, Mastercard, others as Eurozone banks develop domestic payment platform

EPI, Eurozone Banks

Sixteen major Eurozone banks have come together to start the implementation of a new payment system to take on the might of Visa and Mastercard and the threat posed by Chinese and us big tech firms. The European Payments Initiative (EPI) aims to build a unified pan-European payment system, offering a card for consumers and merchants across Europe, a digital wallet and P2P payments. The banks backing the are BBVA, BNP Paribas, Groupe BPCE, CaixaBank, Commerzbank, Crédit Agricole, Crédit Mutuel, Deutsche Bank, Deutcher Sparkassen- und Giroverband, DZ BANK Group, ING,…

Read more