EuroPA Launches Cross-Border Instant Payments in Southern Europe

The European payments landscape has taken a significant leap forward with the launch of cross-border mobile transfers under the EuroPA (European Payments Alliance) initiative. This strategic collaboration between Italy’s Bancomat, Spain’s Bizum, and Portugal’s MB WAY marks a pivotal moment for interoperability across domestic mobile payment systems. It enables instant peer-to-peer transactions between users in Italy, Portugal, Spain, and Andorra using just mobile phone numbers. This development not only enhances user convenience but also aligns with the European Union’s ambition for payments sovereignty.

Cross-Border Instant Payments: A New Era of Interoperability

The introduction of cross-border mobile transfers under EuroPA is a game-changer for the European payments industry. Users of the participating schemes can now seamlessly send and receive money across borders using their familiar domestic apps. Whether it’s a student in Madrid reimbursing a friend in Milan or a family member in Lisbon supporting relatives in Andorra, payments are processed instantly and securely. This mirrors the user experience of domestic transfers, making the process intuitive and hassle-free.

Strategic Collaboration and Scale

The strategic collaboration facilitated by EuroPA links more than 50 million users and 186 financial institutions across the four countries. This scale and reach rival many global payment platforms, offering a robust infrastructure for cross-border transactions. By June 2025, all participating banks across Italy, Portugal, Spain, and Andorra are expected to be fully interconnected, further enhancing the network's efficiency and reliability.

In 2024 alone, Bancomat, Bizum, and MB WAY collectively processed over 2 billion payments, capturing over 65% of all instant payments in their respective markets. This impressive volume underscores the significance of the EuroPA initiative and its potential to reshape the European payments ecosystem.

Aligning with EU's Payments Sovereignty Ambitions

At its core, EuroPA aligns with the European Union’s ambition for payments sovereignty. The alliance aims to reduce reliance on US-based card networks and promote euro-denominated solutions. By adhering to SEPA Instant Credit Transfer (SCT Inst) standards, EuroPA champions a pan-European infrastructure rooted in interoperability, trust, and technological cohesion.

A Pragmatic Approach to Regional Financial Control

EuroPA represents a regional push to assert control over critical financial rails, much like the European Payments Initiative (EPI). However, where EPI has faced structural and political challenges, EuroPA is carving a pragmatic path by leveraging existing domestic champions rather than creating a new scheme from scratch. This approach not only accelerates the implementation process but also builds on the established trust and familiarity users have with their domestic payment systems.

Future Prospects and Innovation

Looking ahead, the EuroPA alliance signals intent to broaden its scope both geographically and functionally. Future phases are expected to incorporate new use cases, from merchant payments to request-to-pay services. Additionally, the initiative aims to extend beyond the euro area, inviting participation from additional European countries. By anchoring innovation in trusted domestic solutions, EuroPA is redefining the future of real-time payments in Europe not through disruption, but through smart integration.

Towards a Unified European Payment Landscape

The result of this strategic initiative is a step toward a unified European payment landscape that places user convenience, sovereignty, and seamless interoperability at its core. EuroPA’s launch of cross-border instant payments is not only a milestone for the participating countries but also a significant stride toward a cohesive European payments framework.

In conclusion, the EuroPA initiative is poised to transform the European payments landscape by enhancing cross-border payment capabilities and promoting payments sovereignty. As the alliance continues to expand and innovate, it will play a crucial role in shaping a more integrated and efficient payments ecosystem across Europe.