Europe’s 130M-User Wero Wallet Could Erode Visa’s Two-Thirds Card Market Share
Europe’s Payments Initiative and EuroPA alliance agreed to build an interoperability hub reaching 130 million users across 13 countries, with cross-border peer-to-peer transfers in 2026 and e-commerce expansion by 2027. International card schemes process roughly two-thirds of euro area transactions, driving efforts to cut reliance on Visa and Mastercard.
1. Payments Sovereignty Drive
EU leaders warn major digital payment systems are controlled by U.S. or Chinese companies and call for Airbus-style payments infrastructure to reduce strategic risk.
2. EPI and EuroPA Alliance Formation
On February 2, EPI launched Wero and signed a memorandum of understanding with the EuroPA alliance linking national systems such as Bizum, Bancomat, MB WAY and Vipps MobilePay, aiming to serve 130 million users across 13 countries.
3. Implementation Timeline
The interoperability hub targets cross-border peer-to-peer payments in 2026, with e-commerce and point-of-sale functionality slated for 2027, leveraging instant account-to-account transfers.
4. Implications for Visa
With international card schemes accounting for about two-thirds of euro area transactions and 13 member states lacking domestic alternatives, Europe’s drive for homegrown rails could reduce Visa transaction volumes and fee revenue.