EuroPA Launches Cross-Border Instant Payments in Southern Europe

In a significant development for European payments infrastructure, Italy's Bancomat, Spain's Bizum, and Portugal's MB WAY have initiated cross-border mobile transfers under the EuroPA (European Payments Alliance) umbrella. This landmark stride enhances interoperability across domestic mobile payment systems, enabling instant peer-to-peer transactions between users in Italy, Portugal, Spain, and Andorra, all through the convenience of mobile phone numbers.

Introduction to EuroPA and Its Impact

The launch of EuroPA marks a pivotal moment for cross-border payments in Southern Europe. 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, mirroring the user experience of domestic transfers.

Expanding the Network and Reach

By June 2025, all participating banks across the four countries are expected to be fully interconnected. This strategic collaboration links over 50 million users and 186 financial institutions, offering a scale and reach that rivals many global payment platforms. 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.

Aligning with EU Ambitions

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

EuroPA vs. EPI: A Pragmatic Approach

Much like the European Payments Initiative (EPI), EuroPA represents a regional push to assert control over critical financial rails. However, where EPI has faced structural and political headwinds, EuroPA is carving a pragmatic path by leveraging existing domestic champions rather than creating a new scheme from scratch. This approach not only facilitates easier adoption but also builds on the established trust and reliability of domestic payment systems.

Future Prospects and Expansion Plans

Looking ahead, the 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, and 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.

Conclusion

The launch of EuroPA marks a significant step toward a unified European payment landscape that places user convenience, sovereignty, and seamless interoperability at its core. By leveraging the strengths of domestic champions and aligning with EU ambitions, EuroPA is poised to redefine cross-border payments in Europe, creating a more cohesive and user-friendly financial ecosystem. As the alliance looks to expand and incorporate new functionalities, it holds the promise of further enhancing the efficiency and reach of instant payments across the continent.