European Payments Interoperability Initiative Links Bancomat, Bizum, EPI/Wero, SIBS‑MB WAY and Vipps MobilePay

The five leading instant‑payment providers Bancomat, Bizum, EPI/Wero, SIBS‑MB WAY and Vipps MobilePay have announced the formation of a pan‑European interoperability entity that will link their national solutions under a single technical framework.

Why the collaboration matters

Each of the participating schemes already commands a strong domestic market: Bancomat in Italy, Bizum in Spain, SIBS‑MB WAY in Portugal, Vipps MobilePay in the Nordic region and EPI/Wero across several Central and Eastern European countries. EPI, the network behind Wero, has built a reputation for fast, low‑cost transfers that operate on the SEPA Instant Credit Transfer scheme. By joining forces, the providers aim to overcome the fragmentation that still characterises the European payments landscape.

The new entity will be governed by a joint board that includes representatives from KBC Group, which will act as a coordinating hub. KBC’s experience in cross‑border banking and its existing connections with the participating networks are expected to accelerate the development of common standards, API specifications and compliance procedures.

Implications for consumers and merchants

For end‑users, the most visible change will be the ability to send money instantly from one national app to another without the need for a separate account or conversion step. A Spanish Bizum user, for example, will soon be able to transfer funds directly to an Italian Bancomat wallet, and the transaction will settle within seconds. Merchants that already accept one of the solutions will gain access to a broader customer base without having to integrate multiple proprietary systems.

Regulators have welcomed the initiative as a step towards a more integrated single market for digital payments. The interoperability framework is expected to rely on existing SEPA Instant infrastructure, which means that the underlying settlement risk remains low and that the solution can be rolled out without major changes to national payment rails.

Industry observers note that the collaboration could set a precedent for future alliances involving other regional players. As the ecosystem matures, additional services such as cross‑border invoicing, real‑time currency conversion and integrated compliance checks may be added. In the meantime, users can already benefit from related fintech tools; for instance, the Wise platform continues to offer low‑cost international transfers, while the Cardentity provides card‑issuing solutions that complement the emerging network.

Overall, the creation of a European interoperability entity signals a decisive move towards a more seamless, border‑less payments experience for both consumers and businesses. The involvement of established banks, technology providers and fintech innovators suggests that the initiative will have the resources and expertise needed to deliver on its promise, while also encouraging further standardisation across the continent.