EuroPA: The future of payments is here
Bancomat, Bizum and SIBS are bringing European payments to the next level through EuroPA, the European Payments Alliance, by achieving a significant milestone in cross-border payments in Europe.
Bancomat, Bizum and MB WAY have begun rolling-out their connection, which will enable users in Italy, Portugal, Spain and Andorra to send and receive money instantly to mobile phone numbers, using their preferred payment solutions.
With this launch users from Bancomat, Bizum and MB WAY can easily and instantly transfer money cross border with the same speed and user experience that they currently have: it’s as simple as selecting the contact from the contact list and money will be immediately available on the destination account. Users can expect the same confidence and security as they have currently.
From today, the banks that are part of the local solutions will start to adhere to the interconnection gradually. It is expected that all participant banks, from Italy, Portugal, Spain and Andorra, will be connected by June.
EuroPA enables interoperability between Bancomat, Bizum and MB WAY, connecting more than 50 million users and 186 financial institutions from Italy, Portugal, Spain and Andorra. Bancomat, Bizum and MB WAY are the leading mobile payment solutions in their countries, with more than 2 billion payments in 2024 and a share of more than 65% of total instant payments in the four countries.
EuroPA is aligned with the strategic objective of sovereignty and autonomy of Europe in payments through the adoption of European SEPA standards, building on the trust of leading European payment solutions and infrastructures now connected in their components in an innovative and simple way.
The scope of the alliance is expected to grow, extend to include additional use cases and expand to more countries (euro and non-euro), simplifying the way Europeans make payments. This initiative aims to strengthen the innovative and trusted European payment infrastructure.