A group of 16 European banks are working on a unified card and digital wallet that can be used across Europe.
The founders of the European Payments Initiative (EPI) include all major French, German and Spanish banks.
I’m curious why Intesa Sanpaolo1 and the Austrian and Nordic banks haven’t joined.
A pan-European payment solution is long overdue. Payment providers like Visa, Mastercard and PayPal have profit margins that European banks can only dream of. Increased competition and lower prices would be great for sellers and consumers.
- Intesa Sanpaolo sold its retailers’ payment business to Nexi, maybe that’s the reason.