European Payments Groups Unite to Build Cross-Border Rival to Visa and Mastercard

What's happening

Some of Europe's largest domestic payment schemes, including Bancomat and Bizum, are joining forces to create a new cross-border network aimed at reducing the continent's reliance on US-controlled card infrastructure. At the same time Mastercard is introducing offline payment requirements across Europe, with a new protocol that will apply to newly issued Mastercard cards and payment terminals from February 2027, designed to keep payments running during power and network outages after a 2025 blackout affected more than 50 million payment outlets in Spain and Portugal. Mastercard and industry press are describing the initiative as a way to enable payments during telecommunications or power failures across Europe.

Why it's trending

Because recent large-scale outages and concerns about US-controlled card rails have pushed European schemes to pursue independent, resilient cross-border options now.

Signal2.5× its usual volume, confirmed across 1 independent source type.